Soon the largest port of Europe will test blockchain based application. We are talking about the Port of Rotterdam which will be implementing blockchain for energy-trading. The blockchain system is getting its finishing touches. Soon, in the coming months, it will be open for testing. It is developed by BlockLab which is a blockchain developer. Its task is to create blockchain powered solutions for better functionality of the port. BlockLab is developing the energy-trading system teaming up with S&P Global Plats, a commodity and energy info provider.

The blockchain application will improve coordination of the supply and demand in the organizations that work inside the port. Its primary aim is to automate the whole process. It will reduce the cost of manual labor and also make the process efficient. The organizations in the port can choose different energy suppliers with this system. Also, there will be real-time information on the availability of the suppliers. The system will also provide the info on how much cost the suppliers will charge per hours in a day.

As per the logistics lead of BlockLab Aljosja Beije, solutions are possible without the blockchain technology. However, blockchain can solve problems in a very efficient manner. So, blockchain has great potential in the shipping business.