The independent technology consortium Global Shipping Business Network (GSBN) will develop a blockchain operating system in collaboration with Oracle, Microsoft, AntChain and Alibaba Cloud, to accelerate digital transformation in the global trade sector.
By using blockchain technology, the consortium, which was first founded by eight global shipping lines, is able to enable collaboration between disparate market participants.
For the platform layer, GSBN chose to harness Microsoft Azure Southeast Asia Region in Singapore for its high scalability, functionality and security.
Furthermore, the Hong-Kong-based nonprofit consortium, which accounts for one in every three containers handled in the world, partnered with Oracle to harness its Oracle Blockchain platform in Oracle Cloud, which is recognised as one of the leading distributed ledger platforms for building an enterprise-grade, permissioned blockchain, according to a statement.
To ensure the control of data by GSBN members, data is encrypted before it is sent to the platform, hence, GSBN cannot see the data without the members’ authorisation.
Last but not least, Ant Group’s AntChain, which provides an enterprise-grade and reliable platform with its blockchain, secure computing, Internet of Things (IoT) and other technologies, was selected by GSBN for deployment in China.
AntChain was listed by the research firm IDC as the top-ranked provider in the Blockchain-as-a-Service market of China in 2020 and is further supported by Alibaba Cloud which has also been recognised as first in Asia Pacific for Infrastructure as a service by the research firm Gartner in the past few years.
Earlier this year, GSBN has announced the selection of IQAX as the technology partner to develop and operate the blockchain platform.
