AERGO

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  7. Company K

Company K

  • A blockchain-based ship reservation system
  • Development of a prototype for developing a blockchain-based logistics business model

Delivery Type :

System Integration

System Type :

On Premise

BACKGROUND

  • A blockchain consulting project on Company K by the Korea Society of Blockchain
  • Application of blockchain to a ship reservation system that was already fully developed to be serviced by Company K
  • Verification and adoption of blockchain technology

CHALLENGE

  • To devise a way to verify the reservation and authority on ships
  • To enable inquiries on addresses of forwarders, shipping companies, etc. by issuing assets that can verify shipping rights(right to load containers on ships) based on blockchain
  • To provide a permanent history of changes in documents (transfer of pickup rights, etc.)
  • A need to link the list of import loadings of the relay network through the web, and to synchronize the DO changes in the relay network
  • Difficulty in enabling integrated management, due to the variety of participating stakeholders

SOLUTION

  • Developing a blockchain-based logistics system (Logisview Web)
  • Developing smart contracts on container shipping processes – ConDoc (container invoice) to be issued through smart contracts, and transactions to be done based on UTXO
  • Saving State by utilizing smart contracts
  • Saving as transactions by utilizing blockchain’s SDK
  • Saving the history of TimeStamp (Hash) and issuance, distribution, and storage of electronic documents (c-D/O) in the blockchain and storing the history of such operations in the DB

BENEFIT

  • Enabled verification of authority through developing a blockchain-based shipping right token issuing system
  • Possible creation of a new market in the future based on cryptocurrency through a secondary market
  • Creation of highly useful material for promotion and reference for projects
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