A blockchain “comes to fruition” in Mexico to improve cargo transportation

A blockchain "comes to fruition" in Mexico to improve cargo transportation

Key facts:
  • It is the base of the Hutchison Ports company, in Veracruz, the largest port in the country.

  • Customers will be able to book services and monitor shipments in real time.

The company Puertos Hutchison México will use a blockchain and will also use other technologies that the Fintech company dexFreight will provide to enhance its operations.

It has not yet been detailed which network will be used or if it will be a public blockchain, such as Ethereum or Bitcoin, or a private one, accessed only by authorized users.

dexFreight will provide its blockchain-based market logistics network for improve the efficiency of land transport and the management of containers that arrive at ports with merchandise. This company develops smart contracts, which will allow organizing the entry and exit of loads with greater transparency and organization, stands out in a PR Newswire publication.

The first port to have this service will be Veracruz, the largest in Mexico. However, there is the possibility that these solutions will be moved to other ports in the future, both in this and in other countries where the Hong Kong-based company has operations.

A blockchain "comes to fruition" in Mexico to improve cargo transportation
Veracruz is the largest of the four Hutchison ports in Mexico. Source: hutchisonports.com.

The management of suppliers, carriers and trucks will allow Hutchison customers to consult the available loads, reserve services in advance, track and bill your operations and monitor shipments in real time.

According to the cited article, what Hutchison intends is to provide its customers with a solution that improves their experience by improving logistics services beyond ports. In this sense, dexFreight allows the company to be more aware of the needs of its users.

Precisely among these clients are more than 100 companies located in the Fortune 100 list, which includes the richest companies in the world. In addition, Hutchison Ports has another 20,000 users on all continents.

For its part, dexFreight is a Fintech company that is dedicated to providing logistics solutions for the management of transportation and cargo. For that, it uses smart contracts based on decentralized protocols to manage reservations and payments, as well as to organize the intervention of other actors in the supply chain.

Other ports that adopted blockchains

This experience of the port of Veracruz will be the first in Mexico, but not the first in America. Indeed, the Port of Buenos Aires, the most important in ArgentinaIt will also use new technologies to better manage its operations.

As reported by CriptoNoticias, the tender for the creation of the e-PuertoBUE platform was opened on August 5. Although no further details were reported in this regard, it was detailed that the premise is to simplify procedures, reduce costs and emit a lower carbon footprint.

Likewise, at the end of 2020 it was also reported that Spanish ports and railways would use a blockchain for the same purpose. In that case, development is in charge of the Spanish government agency Puertos del Estado, ADIF and the Ministry of Transport, Mobility and Urban Agenda. These organizations will award 2.7 million euros to create a platform that fully manages logistics and freight transport data in the country.

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