Cargo Shipper Unveils Blockchain Trackers

Announcements, Blockchain, Innovation, News | May 17, 2017 By:

SK Holdings C&C, a subsidiary of IT services provider SK Group, has developed a blockchain-based logistics system designed to accelerate digitization of cargo shipping and other logistical services. The company completed a test operation of the system on containers leaving South Korea for Shanghai.

The blockchain system will allow multiple parties involved in a logistical process, including cargo owners, shipping firms, and delivery companies on land, to share and manage data related to cargo at the same time, according to the company.

The blockchain logistics service by SK C&C will make use of affiliate SK Telecom’s network to track and manage cargo containers, while its Internet of Things (IoT) network, dubbed LoRa, will allow real-time tracking of each container’s location while it is traveling on land through IoT sensors attached to the container.

The IoT sensors can also track the container’s inside temperature and humidity. At sea, the sensors can collect the same data, but it can only be shared to customers when the cargo arrives on land because the network has not yet been established at sea.

“SK Holdings C&C’s blockchain logistics service has been developed based on SK’s IoT and advanced logistics technologies and supply chain management systems,” said Oh Se-hyeon, head of the Development Transformations business development unit at SK Holdings C&C. “We will make an effort to establish a blockchain-based e-logistics network that can improve the international competitiveness of shipping companies by binding interested parties in the global logistics market with blockchain.”