b'18American Journal of Transportation ajot.comThe whats and wherefores of blockchain for the supply chain Blockchain developmentsBy George Lauriat, AJOT 2020There are many whats andThis makes it very difficult tolike shipping?whereforeswhenitcomestohack as the rewrite has to fit in thinking about blockchain andthe entire chainessentiallyb iGP icturethetechnologysapplicationblockafterblockoverthou- The answer is evident in to the supply chain. Its now asands of servers. a holistic look at the supply ubiquitous term when discuss- Mostdetractorshavechain. The transnational nature ingthedigitalizationofthepointedoutthatthebarrierofthesupplychainmeans supply chain, but what it is andtowidespreadadoptionofthat there can be many trans-is not is key to understandingblockchain is as much finan- actional breaks in the supply the great potential that block- cialastechnological.Thatschainthesupplychainis chainholdsforinternationalbecominglessofanargu- often far from being a seam-shipping and trade. mentastimegoesonandless network. More often it is Blockchain, ordistributedcosts come down. A second- really a series of chains linked ledger technology (DLT), burstary objection is more funda- at key junctures, leaving gaps on the IT scene over a decadementaldowereallyneedin visibility and action ability agoasaFinTech[financialblockchain? The thread of thefor both the transactional seg-technology]system.Intheargument being while block- ment and physical movement earlydays,itwasmostlychainisgoodforfinancialof the goods. And these gaps associatedwithBitcoinbutinstitutions and Bitcoin, whyin the supply chain can prove has now established a namedo I need it for my business(BLOCKCHAINcontin-for itself.particularly in an industryued on page 25)Atitssimplest,block-chainprovidesasecure digitalmeansforatransac-tionbetweenvariouspar- CONECT PRESENTS THE 19TH ANNUALties.Financialandbanking services were early adoptersNORTHEAST CARGO SYMPOSIUMand government agencies and other security conscious sec-torssuchashealthcareand VIRTUAL EVENT realestaterapidlyfollowed suit.By2010,blockchainsTwo Days of Expert Industry EducationNovember 9 & 10, 2020applicationforinternational transactionshadmigrated intointernationaltradeand inevitably moved into the eco system of the supply chain. t heb lock iNb lockchaiNThe DLT is based on what is called a peer-to-peer (P2P)Trade Day KeynoteTransportation Day KeynoteSpecial Guest Speaker Barb Secor, Senior DirectorMario Cordero,technology that enables dataExecutive Assistant Comm.Comm. Rebecca F. DyeKate Weiner, Director, of Global Trade Compliance,Executive Director,to be stored globally on thou- Brenda Smith, Office ofFederal MaritimeGlobal Customs RegulatoryThermo Fisher Scientific Port of Long Beachsands of servers while allow- Trade, U.S. CBP Commission Affairs, Cargillingnearrealtimeaccessto anyone on the network. The security of the network comes from the thousands of servers on the networkessentially a network existing in the cloud.The block in blockchain is really the unique informa- David Murphy,Alison Leavitt, Nicole Uchrin,Ken Kellaway, Greg Brinkman tion stored about the transac- Partner, Transportation Day Co-chair,Transportation Day Co-chair,President & CEO,VP Inbound Logistics,GDLSK Wine & Spirits ShippersGemini ShippersRoadOneBobs Discount Furnituretiontime, date, amount etc.Association Association IntermodaLogisticsBlocksalsostorenetwork informationofwhoispar- TRADE DAYALSO FEATURING:ticipatinginthetransaction.MONDAY, NOV. 9, 1:003:30 PMEachblockisdifferentandAmy Magnus, Director, Customs Affairs and stores a unique code or hashBrenda Smith, Office of Trade, U.S. CBP Compliance, A.N. Deringer, Inc.thatseparatesfromotheron 2021 CBP trade initiatives Bob Silverman, Partner, GDLSKblocks. Essentially each entryCONECT Counsel Peter Friedmann on presidentialLenny Feldman, Partner, Sandler, Travisbecomes a unique block in theelection results and impact on trade& Rosenbergdata chain and while visible in the network, it is protected byBCOs and trade attorneys on compliancePLUS:encryption, in effect buildingchallenges and interpretations Virtual networking opportunitiesa security network as well as a transactional one.TRANSPORTATION DAYCONECT Partner and Sponsor virtual exhibitTheblockinblock- TUESDAY, NOV. 10, 1:003:30 PM and display opportunitieschain has, up until recently,Rebecca Dye, Federal Maritime Commission, Total CCS/CES/MES/MCS points: 5been the expense in assem-bling both the type of encryp- on detention, demurrage, and moreChafee Scholarship raffletionsoftwareandserverCONECT Counsel Peter Friedmann on presidential networks to handle the spe- election results and impact on transportationREGISTER cialized traffic of blockchainHot topics in ocean shipping for BCOs,transactions.sellingpointcarriers, and portsNOW!Aprinciple forblockchainissecurity.COVID-19: Best Practices for BCOs,at CONECT.orgEach block in the blockchainFF/CHBs, and Carriersis added chronologically to the end of the chainsetting eachPARTNERSHIPS, SPONSORSHIPS AND BOOKLET ADS ARE AVAILABLE!block with its own hash in aCall Coalition of New England Companies for Trade at 508-481-0424 or go to CONECT.org for details.very specific spot in the chain. NECS_8x10_091820.indd 1 9/18/20 4:21 PM'