Smart sea container makes international trade more efficient

Trade may be a main driver of the world economy, but many trade processes are still very inefficient. For example, it takes some 40 days to settle a transaction between Europe and China, while a ship takes around 24 days to travel the distance. The difference may be attributed to the administrative process and poor access to (shared) data.

Combination of blockchain and the internet

Glassbox believes it may have found the solution: combining such technologies as blockchain and the Internet of Things will improve the transparency and accessibility of the logistics chain. Sea containers will be made ‘smart’. Technologies can accelerate data exchange and provide stakeholders with the information they need. This is how Glassbox is making current trade processes cheaper, faster and more efficient.

Idea was born during hackathon

The idea was born during the Beyond Banking Days hackathon held by ABN AMRO in early June. Shipping has always been an important sector for ABN AMRO, traditionally active in trade finance. The Glassbox Hackathon Team, made up of employees of IBM, Maersk Line, Core|vision and ABN AMRO, worked hard to flesh out the concept this past summer. During the World Port Days, the team will present what they have developed and will take the time to discuss the idea with clients.

Visit the smart sea container

Anyone interested can come take a look at the smart sea container during the World Port Days. The Glassbox Team will be located at the Parkkade in a Maersk container with ABN AMRO banners.