Tesla among stakeholders in Shanghai blockchain cargo trial

Tesla has joined hands with CargoSmart, the China Ocean Shipping Company Limited (COSCO), and the Shanghai International Port Group (SIPG) to trial a new application that will transform the current cargo release process. This pilot is said to be the first of the projects wherein an ocean carrier is organising a real-time exchange of shipment data with a terminal operator through blockchain.

During the pilot, not just the benefits of having a single and trusted source of truth in...