Russia’s Infotech Baltika Logistics Shipping Company to Develop Edge.Port Blockchain with Iconic Startup
Despite all the issues that we have seen in the market in 2018, there is a part of the blockchain industry that was very successful last year and it continues to be now: using the blockchain for logistics operations.
Now, a Russian shipping logistics company known as Infotech Baltika is the next company that has decided to create a blockchain system for ports. The company will create Edge.Port, a new blockchain solution made together with another Russian company, Iconic.
According to reports from local media outlets, the companies that participate in the system will be able to store all of their documents on the blockchain and to use all port services together with the platform, which includes parking, boat rentals and much more, as well as a tracking system.
The idea is to save resources and time. According to Infotech Baltika, the time spent on port operations can be reduced from four whole hours to only around 25 minutes by using this new technology. This could increase the port capacity in 3 to 5%, according to the company, a sizeable boost.
About Infotech Baltika
Infotech Baltika is a major Russian company which operates in 14 different ports in the country and in many European countries as well, which include Italy and Cyprus. The company, according to its official numbers, is able to move than 3,000 shipping operations per year and it was named as the best cargo shipping company in St. Petersburg in 2017.
During that year, the company was able to move over $1.5 billion USD in goods around Russia and Europe.
Blockchain And Logistics Are The Perfect Match
No one can deny that the logistics industry is receiving several benefits from using the blockchain technology. Maersk, the giant shipping company, has united with IBM in order to create its own blockchain-based shipping solution last year, which was one of the biggest initiatives of its kind.
Also, Israel’s largest shipping company, Zim, has recently made a successful pilot test of a blockchain platform, so it looks like the blockchain technology and shipping logistics are a perfect match.