China Logistics Blockchain System

Posted on July 8, 2020 by F. Robert Jacobs
A China-based blockchain platform for the shipping sector is taking shape. State-run container line Cosco Shipping Holdings Ltd. struck an agreement with e-commerce giant Alibaba Group Holding Ltd. and its payments affiliate Ant Financial Group, the WSJ Logistics Report’s Costas Paris writes, setting up a three-legged support system for technology meant to track goods across seaborne supply chains. Alibaba signed a similar deal in May with China Merchants Holdings to create a digital platform for port operations. The digital deals effectively set up China operations that rival the TradeLens blockchain platform established by Maersk Line and International Business Machines Corp., a network that has signed on several other big container lines. TradeLens has a long list of logistics operators and ports signed up. Alibaba and Ant Financial may provide ties to large numbers of Chinese shippers, but Cosco’s next step could be to bring more service providers on board.
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