The Haishui Port International Cooperation Forum was held in Ningbo, Zhejiang from June 13th to June 14th. More than 400 guests from more than 40 countries and regions along China’s border with China’s Haisi gathered for the “Port and Belt One Road” initiative, with the theme of ‘platform co-construction, industry development, cooperation, and mutual benefit.’ Interchange and consensus was established through high-level interviews, interactive quizzes, roundtable meetings, business promotion, and more, to promote cooperation and ‘win-win’ development between all parties involved.

The global market is continuously expanding, but many inefficient and wasteful operations and processes still negatively affect the effective flow of goods in practice. Using letters of credit or bills of lading and other such documentation is essential to world trade, a process which relies on a 200 year-old system of paper bills. International business requires complicated, tedious and ineffective manual processes, which results in huge wastes in funds and time.

Digitalization of services and programming can satisfy communications between trucks and truck drivers. This will greatly reduce waste in the shipping system, saving approximately 700 billion American Dollars a year. To be specific, promoting digitalized applications improves the flow of documentation required for global logistics, and improves the efficiency of real-world operations (such as container terminals) and improves the efficiency and reliability of the entire supply chain. This allows owners to reduce inventory, a win-win situation. Digitalization will benefit every aspect of world trade.

There are currently 3 levels of digitalization happening in ports. The first is at the asset level. Efforts are currently being made to connect cranes, bridges, straddle carriers and docking trucks to the so-called ‘internet of things,’ The digitalization of the functions, efficiency, maintenance, and every other aspect of assets is currently underway.

The second layer is at the individual terminal level. Digital optimization of the assets of the entire system increases business efficiency, and the deployment of assets and strategic support will also improve accordingly. Third is the global layer. The global terminal network collects data to provide KPI reports, benchmarks, and operational efficiency management.

The digitalization and technical upgrading of ports depends on commercialized, secure, and highly-functional lower layer blockchain technology. MOAC Chain’s lower level public chain’s has performed higher than any other blockchain in security, scalability, and functionality than any other chain since its launch onto the main net. This has attracted the attention of many governmental agencies and big companies, including Ningbo Zhoushan Port and the Ningbo Municipal government. This cooperation with the Ningbo Zhoushan Port will bring about the digitalization of the Zhoushan Port and the maritime silk road.

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