The signing to form the consortium to develop the Global Shipping Business Network (GSBN) highlights a new two-way competition. A competition which can bring many benefits in the blockchain trials of the industry.
Before the 10 strong companies of container shipping industry agree and form the new consortium, there was only one partnership having a leading role in blockchain technology. Tradelens, an innovative project of Maersk and IBM, was the only player in the game.
{This platform could not achieve -until now- to attract other shipping companies (or another industry’s firms). One of the reasons may be the bad business model, which Andrea Tinianow analyzes on Forbes.}
However, the new-formed consortium can change the situation, making it a little more interesting. The competition is born between the two parties could push the companies to proceed faster to the real-condition use of blockchain. The two parties will possibly go in a match up, in which the faster wins.
We do not know yet the specific field of GSBN. But its blockchain-related area is enough to create the necessary competition in order to move from the theoretical scenarios to the real benefits of blockchain technology. Companies -we hope- to accelerate the process of their plans, willing to overcome each other.
With the new consortium includes some of the strongest ocean carriers -CMA CGM, COSCO SHIPPING Lines, Evergreen Marine, OOCL, and Yang Ming- seems to be like “Maersk against all”.
Let’s hope the competition between the two blockchain parties generate faster and more essential actions about the use of the new technology in order to solve real problems of the industry. The advantages companies, ports and shippers can receive by blockchain could be very crucial and this two-way competition may be the chance to know the blockchain world sooner than we estimated.
Antonis Karamalegkos
