Cargo Release- GSBN Platform
Paperless, efficient platform to reduce operational time cutting down delivery times. Simplified process with communication between all parties involved from port to end users with truckers, agents, shipping brokers and customs sandwiched in between keeping each other informed.
I was reading an article about a shipping blockchain called GSBN or Global Shipping Business Network based out of Hong Kong. Their aim is to control the movement of one third of all shipping containers which sounds like a reasonable target.
This is not on the VeChain which is a "logistics" blockchain or what they first envisioned as their target audience. GSBN is using Oracle, AntChain, Microsoft Azure and Alibaba Cloud. We shall see how this plays out as companies will not be utilising just one blockchain as there will be many crossing over. Just in Logistics alone one company could be involved working on half a dozen blockchains or more depending on their clients needs.
What is interesting to note is the GCBN platform was created on a non profit basis so as ensuring it remains neutral. I wonder how long that idea is going to last as there has to be an end game in play. This idea of a non profit service is unique as they believe that everything is going to change to digital which is kind of obvious. The removal of all paperwork as everything will be loaded onto the blockchain along with access to finance ,banking, trucking and customs making it a one stop shop for shipping agents and clientele.
The shareholders on board are port operators and some major shipping lines which gives GCBN a healthy head start to accomplish their 30% world container target. Who they have on board is key and depending on what services they offer as there are going to be many other players in this service related industry. I can see some clients stipulating that their products use certain blockchain services over others and GSBN may have a harder time adopting into the industry than they may think.
Maersk Shipping lines had a similar platform with "had" being the keyword as they gave up on the idea and GSBN has taken it's place. When people see this idea of using a blockchain they don't envision the time required for adoption to take place. This is preparing for the future and will only be fully operational within the next decade.
There is no point trying to sign Maersk up to their platform immediately as they are obviously not pro the idea due to cancelling tier own. If they want to be the major player in the container blockchain world then they will need Maersk at some point in the future. Who knows Maersk may be working with another blockchain already that is Europe based which would make more sense.
Personally I see this working, but there has to be a monetization aspect somewhere as they are not doing this for charity. There has to be a scaling up operation followed by a membership fee or the launch of a GSBN token for covering costs of each transaction on the blockchain. When something is free there is always going to be a catch and as this scales up I see cost implications turning Cargo Release into a business model. The free part has to be the getting everyone involved part and once you rely on them they hit you with a fee.
Looking at similar type projects that VeChain has been developing there is room for many blockchains providing niche services. The timeframe is not 2023, 2024 or even 2025, but an ongoing adoption process that is going to take years to fully be utilised. I see the next 5 years as the adoption process and then the full run out leading up to 2030 and beyond. Technology has to take over and is not an if, but more of a when.