Blockchain technology is attracting attention throughout the supply chain, and the maritime industry is no exception. Due to increased interest, nine shipping companies and terminal operators develop the Global Shipping Business Network (GSBN), an open digital platform after forming a consortium.

Evergreen Marine, COSCO Shipping Lines, CMA CGM, OOCL, and Yang Ming are the consortium participants. Terminal operators include DP World, Hutchison Ports, PSA International Ltd., and Shanghai International Port. The spokesman for Yang Ming told that the new platform, an ecosystem for the shipping industry, will bring together all shareholders, including maritime companies, terminal operators, customs, shippers and logistics providers, to realize joint innovation and digital transformation in the supply chain.

These goals are in line with the expectations of Maersk and Kuehne + Nagel, who introduced blockchain technology early. In January 2018, A. P. Möller-Maersk and IBM announced plans for blockchain solutions. In August 2018, the two companies together developed a blockchain-enabled shipping solution, TradeLens. The TradeLens ecosystem has Ninety-four organizations actively involved or has agreed to participate.

In its purest form, blockchain is a shared ledger technology that, according to IBM, enables a single, common, tamper-proof ledger. Once recorded, transactions can not be changed. Expected benefits include lower paper processing, faster processing, and improved efficiency.

For blockchain to impact the maritime world, there is one platform working ahead of others. BitNautic allows its users to choose a carrier for their cargo shipping and track its movement. It further lets you pay for these services through BTNT tokens, a cryptocurrency. These services ensure very efficient use of blockchain, which makes BitNautic a completely decentralized platform. Ethx is a global crypto exchange that now has live BitNautic airdrop, and you can use it to claim up to 40 BTNT tokens.