Blockchain is a virtual ledger technology that is unhackable. It is ideal for the management of logistics information and financial records. Busan Port located in the southern city of Busan was selected in a government project to develop core technologies and an unmanned smart logistics system using autonomous equipment in July 2020.
The Busan Port Authority (BPA), the operator of the world's fifth-largest port, said in a statement on June 9 that it will demonstrate a blockchain-based logistics system platform at four container piers starting next month. The demonstration will involve five logistics companies to monitor the location of containers and minimize the travel distance and transport time.
BPA said that truck drivers carrying cargo can make reservations for loading time slots to minimize waiting time. It will take less than 30 minutes for a cargo truck to enter the port and unload its cargo, according to the port operator. Normally, it takes about two to three hours for truck drivers to wait in their vehicles until their cargo is put on to a ship.
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