K+N deploys blockchain technology for VGM Portal
Logistics provider Kuehne + Nagel (K+N) is to exploit the benefits of blockchain technology in a large scale operational environment (800'000 transactions per month) while upgrading its verified gross mass (VGM) portal.
The enhanced solution provides shippers with new features and raises the degree of transparency on the VGM status of all customer shipments.
All information submitted via the portal is stored on-chain, which allows for using native blockchain interfaces for data exchange with third parties, removing the need for additional off-chain communication channels.
The first version of the K+N VGM portal went live in 2016, and gave shippers a solution for filing VGM declarations as required for seafreight shipments according to the International Convention for the Safety of Life at Sea directive that went into force on 1 July 2016. (mw)