GSBN is a platform developed by the Global Shipping Business Network in collaboration with Oracle, Microsoft, AntChain, and Alibaba Cloud. Its mission is to modernize the global trade and shipping industry by digitizing key processes and transactions. Utilizing Hyperledger Fabric as its foundational technology, GSBN aims to enhance operational efficiency across shipping, trade finance, and supply chain management. The platform replaces cumbersome, paper-based systems with streamlined, digital solutions, significantly reducing the time and costs associated with cargo release and other trade operations. GSBN also focuses on recruiting a diverse range of shipping lines and terminals to its platform, thereby fostering collaboration even among competing market participants.
In summary, GSBN serves as a comprehensive digital solution designed to transform the global trade landscape, offering increased efficiency, transparency, and collaboration for all stakeholders.
Overall, the platforms served 10,000 customers and allowed them to reduce cargo release time from days to hours and to reduce port congestion and pollution. The platform can serve 100 transactions per seconds and already handled more than 1 million shipments.
“We chose to join Hyperledger Foundation because it brings together resources and infrastructure required for open-source software blockchain projects” says GSBN’s CTO.
Below is an illustration of how the platform works:
Image source: Hyperledger’s website