Tesla and Shanghai International Port Group Work Together on Blockchain Solution

Electric cars manufacturer Tesla and Shanghai International Port Group (SIPG) conducted a study to assess the possibilities of using the blockchain to import goods into China.

The blockchain application was tested jointly with the Chinese cargo shipping operator COSCO. Thanks to this blockchain application it was possible to reduce the shipping time and simplify the receipt of goods for the Tesla logistics team. The tests took place in December and the result was rated as satisfactory. The type of goods supplied and which blockchain was used during the pilot testing is not reported.

CargoSmart logistics solution provider is satisfied with the test result and plans to test the blockchain application in other Asian ports. In addition, CargoSmart intends to form a consortium of port operators to manage a distributed system.

Image courtesy of Teslarati