US Tech Firm Eyes Blockchain Supply Chain Solution for Major Chinese Ports

[Nikko]

U.S.-based technology company Ideanomics has partnered with the Asia-Pacific Model Electronic Port Network (APMEN) Trade Tech Co. to streamline supply chains with blockchain tech, a press release reports Thursday, September 20.

Together with APMEN Trade Tech Co., Ideanomics aims to leverage blockchain and what it calls “super artificial intelligence” to cut out “layers of middlemen” in port clearance and shipping handling for the Asia-Pacific Economic Cooperation’s (APEC) online port clearance system.

The first instigation of the tools will take place in two major Chinese ports, Shanghai and Guangzhou, the former holding the title of the world’s busiest port in 2017.

The move marks the continuation of a growing trend in the blockchain sector, with a raft of major corporations aiming to disrupt legacy supply chain infrastructure with the technology’s introduction.

In the press release about the Ideanomics and APMEN Tech Trade Co. partnership, Bruno Wu, chairman and co-CEO of Ideanomics, stated:

Readmore: https://cointelegraph.com/news/us-tech-firm-eyes-blockchain-supply-chain-solution-for-major-chinese-ports