KUEHNE + NAGEL has started operating its verified gross mass (VGM) portal on blockchain to get hands-on experience with blockchain technology in a large scale, on-premise production environment with 800,000 transactions per month.
The upgraded solution provides shippers with new features that improve the ease of doing business as well as the degree of transparency on the VGM status of all customer shipments and the history of persisted data, reported the American Journal of Transportation.
All information submitted via the portal is stored on-chain, which allows for using native blockchain interfaces for data exchange with third parties. The company designed the solution to meet industry requirements for confidentiality and data privacy.
Commenting on the deployment of blockchain in the company's VGM portal, chief information officer Martin Kolbe said: 'Our customers benefit from a tamper-proof solution for information exchange with third parties with improved efficiency and higher transparency.'
He continued: 'The full potential of blockchain can only be exploited when collaboratively working together with business partners. Our involvement in a consortium engaged in the digitalisation of bill of ladings for sea freight is the best example.
'Operating the VGM portal on blockchain in an operational high-volume environment delivers valuable learning and expertise for the development of joint blockchain applications.'