DB Schenker and DP World Australia have formed a blockchain consortium with technology start-up TBSx3 and an unnamed container carrier to tackle counterfeit goods.
The companies tested the TBSx3 technology in blockchain trials to secure cargo across a global supply chain in the second quarter of 2017. This tracked the distribution of wines from Coonawarra, South Australia to the port of Qingdao in north-eastern China.
“I knew it was a great opportunity for DP World to become engaged in a new era of industry collaboration,” said Paul Scurrah, chief executive of DP World Australia. “The scale of the fake goods problem is staggering and our company is eager to work with TBSx3 and our industry partners to provide a lasting solution.”
DB Schenker’s chief information officer, Charlie Mcdonald, said: “Data security is the core to modern business risk management and we are excited by blockchain’s potential in this area. The concept of protecting that data through a distributed ledger system holds great promise.”
Pieter Vandevelde, chief revenue officer of TBSx3, said: “Blockchain technology opens new possibilities for industry co-operation. Our aim with forming this alliance is to reignite trust in every link in the supply chain and create a more transparent, ethical ecosystem of international trade.”