Incoming blockchain technology will bolster Peruvian ports

Contxto – As somebody who has worked indirectly with the freight industry, I can verify that the sector often sticks to ancient methods and very much lacks innovation. This is where startups and tech solutions can play a vital role.

Considering that logistics are still archaic in many countries, it’s great to hear that blockchain technology will soon reach Peruvian ports. In fact, this week we discussed the expansion of Nowports and its digital supply chain solution to Peru.

Now, the National Port Authority of Peru through its General Manager, Guillermo Borouncle, announced that big innovation projects are underway. 

“Current global trends call for more efficient and competitive maritime and port logistics services through intensive use of digital platforms such as Port Community Systems (PCS), blockchain and IoT,” said Borouncle.

The objective of these innovations is to attract more international investors. Yet a timeline for the full-fledged deployment of this project still hasn’t been provided.

An additional goal for Peruvian authorities is to improve international communication through a PCS. This system offers better visibility, as Borouncle explained.

“It’s an important tool for inter-governmental communication as well as for companies to stay in touch with port authorities.”

In its current state, the Peruvian shipping industry reportedly makes US$47.2 billion per year. 

Chain project

On a global level, blockchain has already been deployed or being tested in some major port locations. Primarily, its contributions consist of enhancing communication between shipping companies, customs authorities, as well as freight forwarders.

With information about containers’ location or content, users can rest assured that information will not be lost or tampered with throughout the supply chain process. Not to mention reductions of tedious paperwork and increased transparency.

In light of blockchain’s numerous uses, its innovations could potentially mesh nicely with an ongoing regional project, Cadena (meaning “chain” in Spanish). Announced in October 2018 by the Inter-American Development Bank, this initiative seeks to build an open blockchain ecosystem across Latin America. 

Countries involved in this project include Peru, Costa Rica, as well as Mexico. Other participating organizations are IBM, in addition to the blockchain savvy Ethereum Foundation, a computer platform promoter. 

Not only will information sharing be more secure through the joint effort, but also easier. Personally, I think it’s impressive how a multinational team can come together to save time and money for data sharing.

Hey, who knows? Perhaps someday this arrangement could start trending throughout the region.

-ML