CrimsonLogic and a 'major port operator' (assumed to be the Marine Port Authority (MPA) of Singapore) has announced the launch of a blockchain platform for cross-border trade.
It is called 'GeTS Open Trade Blockchain' and it is fully permissioned network and run / validated by accredited trade compliance firms acting as nodes.
It is designed to enable different parties, such as ports, shipping companies and customers, to view and transact trade-related documents in a distributed way to improve supply chain efficiency and transparency. It will also allow companies in the cross-border supply chain industry can develop decentralized applications for specific needs.
Given that CrimsonLogic is 55% owned by the Singapore government and MPA is a government agency, this can be viewed as effectively a Singapore government initiative - one of a growing list in blockchain...