Hong Kong takes the lead in blockchain logistics after Maersk TradeLens demise
China and Hong Kong are pouring money into the blockchain logistics industry to take the lead. After Danish logistics firm Maersk terminated its blockchain-based supply chain platform last year, industry builders have not given up on blockchain applications in global trade. Hong Kong-based Global Shipping Business Network (GSBN), a non-profit consortium focused on blockchain trade applications, is bullish on blockchain as a crucial Logistics tool in the long term. According to a report by The South China Morning Post, GSBN currently operates one of the world’s largest platforms that can be described as an alternative to Maersk’s TradeLens tool. The platform is based on a permissioned blockchain with strong data governance, allowing only authorized parties to contribute and consume shipping-related data. Since launching its blockchain -based shipping platform in 2021, GSBN has tapped major shipping partners like Cosco, OOCL and Hapag-Lloyd. The organization has also reached partnersh...