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GSBN joins Hyperledger Foundation

Supply chain data blockchain consortium GSBN (Global Shipping Business Network), which counts COSCO, Hapag-Lloyd, and OOCL among its members, reports that it has joined the Hyperledger Foundation to accelerate the development of its platform as the maritime sector increasingly moves from paper to digital information exchange.

Hosted by the Linux Foundation, the Hyperledger Foundation is an umbrella project comprising a community of open-source enterprise blockchain technologies, with involvement from a range of stakeholders in finance, banking, Internet of Things, supply chains, manufacturing, and technology.

“Today’s global supply chains are hugely complex with disparate and often competing market participants,” GSBN said, in a statement.

“We believe that enterprise-grade blockchain technology can offer the necessary foundations to navigate these challenges and facilitate trusted data exchange. Indeed, in the same way, the shipping sector continues to evolve, blockchain technology does not stay static either.”

“This is why we are delighted to be joining the Hyperledger Foundation. As the first organization to join from the global shipping sector, we believe through our industry experience and technical expertise at GSBN we can advance the development of blockchain applications to improve efficiency in global trade.”

Hyperledger Fabric’s distributed ledger software provides a permission, enterprise-grade blockchain platform upon which new features and applications can be developed. Having access to this platform will assist GSBN in developing new features to benefit its members, the company says.

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