Rotterdam to get smarter with blockchains

There’s a huge buzz about potential efficiency savings coming from blockchain technology There’s a huge buzz about potential efficiency savings coming from blockchain technology
Industry Database

The Port of Rotterdam Authority is working to develop efficient concrete solutions based on blockchain technology.

In addition to the development of new opportunities, the ‘Blocklab’ field lab will also serve as a knowledge centre for the regional private sector.

“There’s this huge buzz about ‘blockchain’, but actually, there aren’t that many fully functional applications,” said Allard Castelein, Port Authority President and CEO.

“We’ll be changing this with BlockLab. This is important, because we need real innovations to launch the next economy. And blockchain can help us realise them.”

Blockchain technology allows users to conduct transactions without involving a third party making it possible to structure large-scale networks, chains and markets far more efficiently than before.

For example, blockchain allows users to set up a finely meshed decentralised power network, in which companies can trade residual heat and city dwellers can trade electricity. This gives new impetus to the energy transition in the port and the city.

“This alone makes it very interesting to us,” added Mr Castelein. “But I’m also thinking of the numerous applications that can be realised within logistics chains thanks to blockchain, allowing us to organise cargo flows more efficiently. This step is seamlessly in line with our ‘smartest port’ ambitions.”

One of the first concrete projects ‘BlockLab’ will look at is a blockchain application for stock financing in the port logistics sector, developed in partnership with Exact and ABN AMRO.

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