GSBN and project44 to join forces with consortium members to combine bill of lading and supply chain visibility data
14 October 2022, Hong Kong SAR – Global Shipping Business Network (GSBN), an independent, not-for-profit technology consortium building a blockchain-enabled operating system designed to redefine global trade, and project44, the leading supply chain visibility platform, today announced a partnership with the shared goal to enhance supply chain visibility and help address the global trade finance gap.
The partnership will see GSBN’s data utility infrastructure connect with project44’s leading supply chain visibility data to foster collaboration between all stakeholders across the supply chain. This builds on GSBN’s strategy to partner with application builders and data providers to support the development of new industry applications on its platform.
Both project44 and GSBN will also join forces with other consortium members to create a new data bundle which will combine both bill of lading and supply chain visibility data. This will benefit Free Trade Zones, as well as financial institutions by breaking down data siloes to help close the growing multi-trillion-dollar global trade finance gap.
Bertrand Chen, CEO at GSBN, said, “The addition of project44’s data is highly complementary to both our platform and our members. We look forward to leveraging this partnership together with our ecosystem to unlock new value for our members, facilitate collaboration across the supply chain industry, enable better insights and support the development of new applications to address the industry’s most pressing challenges such as the growing trade finance gap.”
Benn Bekic, Chief Development Officer, at project44, said, “GSBN is a fellow pioneer in the digitisation of global supply chains with a growing footprint spanning from Asia to Latin America and we are thrilled to be collaborating more closely with the consortium’s members. GSBN and project44 share an important goal of making supply chains work through innovative and foundational technology. Together we will deliver exceptional value to all members of the supply chain ecosystem globally.”
Following project44’s service expansion in China last year which brought real-time shipment tracking services to the market, its partnership with GSBN is a further step of the company toward its vision for global end-to-end visibility across all modes of transportation.
The latest announcement also follows GSBN’s recent announcement that an electronic bill of lading application, built using GSBN’s Application Programming Interface (API), obtained approval by the International Group of P&I Clubs.
Incorporated in Hong Kong, the Global Shipping Business Network (GSBN) is an independent, not-for-profit technology consortium building a blockchain-enabled operating system to redefine global trade. The platform facilitates trusted collaboration between disparate and competing market participants, as well as enabling greater efficiencies and resilience. It also aims to expand the global trade ecosystem by creating bridges to new market participants including banks, fintech companies and other consortia, while supporting the development of technology-driven innovation as the sector makes the leap to digital.
The consortium was first founded by 8 global leaders in the global shipping industry accounting for one in every three containers handled in the world. www.gsbn.trade
project44 is on a mission to make supply chains work. As the supply chain connective tissue, project44 operates the world's most trusted end-to-end visibility platform that tracks more than 1 billion unique shipments annually for over 1,200 of the world’s leading brands, including top companies in manufacturing, automotive, retail, life sciences, food & beverage, and oil, chemical & gas. Using project44, shippers and carriers across the globe drive greater predictability, resiliency and sustainability.
The undisputed leader in the market, project44 was named the Leader in the Gartner Magic Quadrant, #1 in FreightWaves FreightTech 2022, a five-time leader in customer satisfaction on G2’s Supply Chain Visibility Grid, one of SupplyChainBrain’s 100 Great Supply Chain Partners of 2022, and the Customer's Choice in Gartner Peer Insights Voice of the Customer report. project44 is headquartered in Chicago with a diverse team spanning 23 global offices including Austin, Amsterdam, Kraków, Paris, São Paulo, Shanghai and Tokyo. Learn more at project44.com
Edelman for GSBN
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