Europe's largest port launches Blockchain Research Laboratory

   359

Designed as a "knowledge center for the regional private sector" and focused on applied research, the so-called "BlockLab" is created by the joint efforts of the municipality of Rotterdam and the port authorities to explore the potential of blockchain in organizing port logistics and cargo flows more efficiently.

According to the press release, the first steps include the launch of a blockchain application developed in partnership with the cloud software company Exact and ABN AMRO bank, to promote stock financing in the logistics sector of the port.

However, not all of the research in BlockLab will be connected to the port. The press release also shows interest in exploring the blockchain to give a boost to what it calls an "energy transition", for example, allowing firms to trade residual heat and residents of the city for electricity trading.

This is not the first effort that the port has made within the blockchain space. Last year, the authorities announced that it would participate in the blockchain consortium along with 14 major banks and universities to explore the possibilities of blockchain within the framework of logistics.