Despite an imminent meltdown of the world economy, some leading industries are showing growth-oriented results with aggressive business tactics despite unfavorable market forces. CargoSmart, best known for its tailor-made supply chain solutions to meet industry demands has been a keen adopter of new age technological reforms such as AI and blockchain to fill supply chain gaps.
Further to improve supply chain offerings, CargoSmart is also entering into a long term business collaboration with Cosco Shipping Lines and Tesla Inc., in an initiative to brainstorm and assess a novel application platform for improved cargo release solutions The collaborative effort is expected to kickstart a new pilot operation based on shipment data sharing in real time and collaboration of blockchain based terminal. The development is envisioned to aid in dual services such as centralized cargo documentation accelerates the much-needed digitization of cargo delivery and supply chain management.
There are certain objectives of this pilot project, the primary one being structural minimization of shipping verification. This vital development is expected to fast track billing process with utmost transparency. This is again likely to accelerate cargo pick up process significantly. Tesla is hopeful to improve its supply chain operations and cargo pick-up and delivery footing, besides also enabling CargoSmart to improve visibility of their shipment delivery chain with firsthand information on appointment dates and terminal release thus better route and supply chain roadmap.
The aforementioned string of events as portrayed by CargoSMart is preceded by a global agreement of Global Shipping Business Network (GSBN) which is a blockchain shipping forum. The probable shareholders interested to own stakes in the development comprise prominent names such as CGM, COSCO Shipping, Cosco Shipping Ports, and Hutchison Ports are the esteemed stakeholders.
The pilot project is likely to take place in Shanghai. The development is a step ahead in rendering the much awaited transition into digital realm in the near future.