Global Shipping Business Network (GSBN), the independent, not-for-profit technology consortium to build a blockchain-enabled operating system designed to redefine global trade, announced that its blockchain platform built in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud has officially gone live to accelerate digital transformation in the global trade sector.
The consortium was first founded by 8 global shipping lines and terminal operators accounting for one in every three containers handled in the world. GSBN has been working with the four technology companies to build the infrastructure needed to enable modern, efficient and global trade. As an independent consortium, it chose a best of breed approach to technology to ensure the infrastructure is strong, reliable and highly scalable. To ensure the control of data by GSBN members, data is encrypted before it is sent to the GSBN platform, hence, GSBN cannot see the data without the members’ authorisation.
For deployment in China, Ant Group's AntChain was selected. With its blockchain, secure computing, IoT and other innovative technologies, AntChain provides an enterprise-grade, efficient and reliable platform, and was listed by research firm IDC as the top-ranked provider in the Blockchain-as-a-Service market of China in 2020. This is further supported by Alibaba Cloud, which has been recognised as first in Asia Pacific for Infrastructure as a Service by research firm Gartner in the past few years.
Earlier this year, GSBN has announced selecting IQAX as the technology partner to develop and operate the blockchain platform.