Global Shipping Business Network (GSBN), an independent, not-for-profit technology consortium, has 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 eight 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’ authorization.
To build the underlying blockchain network for its global trade operating system, GSBN partnered with Oracle to harness its Oracle Blockchain platform in Oracle Cloud, which, GSBN noted, is recognized as one of the leading distributed ledger platforms for building an enterprise-grade, permissioned blockchain. By using blockchain technology, GSBN is able to enable collaboration between disparate and often competing 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, Azure’s Availability Zones ensure high service reliability and availability.
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.
Earlier this year, GSBN has announced selecting IQAX as the technology partner to develop and operate the blockchain platform.
For more information, go to www.gsbn.trade.