Port Of Rotterdam Begins Blockchain Applications

Port Of Rotterdam Begins Blockchain Applications 1

The first blockchain applications in the Port of Rotterdam are beginning to fall into place. Leading these applications is BlockLab,established by the Port Of Rotterdam. Aljosja Beije and Janjoost Jullens’ team is concentrating on two domains: ‘Blockchain is certainly not the solution to all problems,but does eliminate the lack of trust that stands in the way of solutions’.

Blockchain is extremely suitable for coordinating processes in decentralised networks of companies and institutions. In a network without central leadership, trust is lagging back. it is exactly this trust that is needed for the large scale data sharing that simplifies and enhances the processes. Blockchain provides that trust, partly because all relevant data is recorded in a secure way on a large number of computers. Manipulating or deleting data is virtually impossible.

Sustainable energy

There are two keywords in the port of Rotterdam in which such a decentralised element plays an important role. The first is the traditional centrally controlled electrical grid, supplied by a few dominant power supliers with coal powered plants.’Blockchain is the technology that can facilitate such a smart, decentralised grid and help achieve the promise of the energy transition’.

Efficiency in logistics

Blockchain can significantly improve the efficiency of this process. ‘In this network,developing blockchain is more of defensive strategy,focusing on retaining market share’, explained Aljosja Beije, logistics lead at BlockLab.

Trade Platform for Energy

Achieving international freight flow requires not only logistics service providers, but banks, customs agencies and other parties. In the energy sector, this concerns both producers and purchasers of energy.

Price Incentives

‘With blockchain we can design such a trading platform safely and efficiently. Moreover,we can automate the trade by establishing ‘smart contracts’. Such a smart contract is a collection of logical rules that enables decision-making processes to be automated.

 

 

 

 

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