Author: Jagdish Kumar, India
If everything goes as per plan, India’s all 12 major ports will be using Blockchain technology for trade related information or documents.
Currently, only four major ports will be enabled with the cloud-based Port Community System (PCS) that integrates flow of trade related information or documents from a centralized hub.
India has 12 major ports that includes Kolkata Port, Paradip Port, New Mangalore Port, Cochin Port, Jawaharlal Nehru Port, Mumbai Port, Kandla Port, Vishakhapatnam Port, Chennai Port, Tuticorin port, Mormugao Port and Port Blair Port.
The system connects shipping lines, agents, banks, container freight stations, customs house, custom house agents, importers, exporters, regulatory agencies, railways, surveyors, etc in a chain that can easily exchange information and documents related to their shipments.
However, this was not the case as the PCS 1.0 was into existence for the last 10 years, but due to technological problems, it did not achieve the desired goal, for which it was designed and developed.
But after the upgrade to PCS 1x thing have moved forward as the cloud based storage which will be blockchain enabled.
Speaking on this, Mumbai based shipping service company, J M Baxi & Company official said that after them implementation of PCS 1x in Chennai Port, Jawaharlal Nehru Port, Vishakhapatnam and Kandla Ports, other ports will be added and by December 2018 all major ports will have this service.
The new service is expected to digitally revolutionize the export-import trade as this system would bring in efficiency in handling and forwarding documents thereby reduction transaction cost and time.
J M Baxi & Company has been working with IBM to come up with PCS for major ports, the company has already introduced Blockchain enabled system to manage their own businesses.
The delivery of the PCS 1x would not only introduce Blockchain technology to integrate functioning at major ports across the India, but also migration of data from the present server-based storage to cloud-based storage as well as integrating existing port operating systems.
The primary objectives of PCS is to have a centralized web-based application that can be a single window for port community stakeholders to electronically, in a secured format, exchange messages, reduce transaction time as well as cost, have a paperless or digital system apart from being a data repository for research and analysis.
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