Tesla’s blockchain-based supply chain solution is complete. The test between the automaker and CargoSmart, a cargo blockchain platform based in the United States, has been confirmed as a success.
This is the first trial of its kind between a shipping company and a car manufacturer to launch real-time shipment data sharing. The whole process will be controlled by blockchain technology by an operator.
Collaboration in testing blockchain-based supply chain solutions
According to reports, CargoSmart has collaborated with Tesla, a shipping company Cosco Shipping Lines and Shanghai International Port Group (SIPG) in an effort to provide a sustainable solution in the shipment shipping process. This will provide an inexpensive cross-border payment solution.
The system will also provide banking solutions to the unbanked population while improving the efficiency of the supply chain. It is a real viable application born from the blockchain. It is a revolutionary data generator and documentation application that will instill confidence in the industry.
Tesla blockchain-based supply chain solution app eases verification friction
The test project aims to improve the verification processes between shipping stakeholders, thereby speeding up the consignment notes. This will make it easier for truckers to collect freight from shipping terminals. This will speed up shipments and decongest ports.
The December 2019 pilot project saw SIPG and Cosco optimize the freight forwarding processes that enabled Tesla to speed up the pickup process on a secure and reliable ecosystem. The tests took place in the port of Yangshan, where the Cosco ships docked and Tesla chose the freight loaded with spare parts for the new assembly plant “Gaga” in Shanghai.
Tesla has been under fire due to the lack of efficiency in its production and the blockchain is considered the best solution. However, the new Shanghai plant has a production capacity of 250,000 new cars per year. Wu Yu, Cosco spokesperson, said that with the optimized handling of waybills, a significant improvement in cargo release has been achieved as it is the basis of the chain planning sector. supply.