The 5th Tianjin World Intelligence Congress opened on 20th May,2021 at Meijiang Exhibition Center. The theme of this congress is “ New Era of Intelligence: Empowering new development, Fostering new pattern”. There are four main types of events including conference, exhibition, game and intelligence experience. GSBN (Global Shipping Business Network), as the first blockchain based non-profit Trade Data Utility Platform together with one of its founding members COSCO SHIPPING LINES, participated in the exhibition to showcase its innovation on accelerating the Digital Transformation of the Shipping industry and enabling the creation of a smart supply chain.

Hong Kong March 17th, 2021- Global Shipping Business Network (GSBN) has incorporated in Hong Kong after securing the requisite regulatory approvals across multiple jurisdictions, officially starting its operations to help accelerate the Digital Transformation of the Shipping industry. Its shareholders are comprised of major global Carriers and Terminal Operators: COSCO SHIPPING LINES, COSCO SHIPPING PORTS, Hapag-Lloyd, Hutchison Ports, OOCL, SPG Qingdao Port, PSA International and Shanghai International Port Group.

GSBN has been established on a not for profit basis to enable stakeholders involved in global trade to increase delivery reliability, streamline operations, and embrace digital transformation. GSBN’s vision is to enable and accelerate the digital transformation of the shipping industry, through the setup of a secure Data Exchange Platform, which will enable the shipping industry to improve its resilience by:

●Facilitating better digital connection and collaboration between stakeholders 

●Improving the visibility to enhance sustainability and reliability of operations 

●Creating a data utility platform to unlock the value of digital transformation for all

GSBN is ‘Here to simplify trade for all’.  Leveraging Blockchain technology, GSBN will provide a platform, which enables its users to exchange first party, real-time, and trusted data. The platform will provide a better user experience, enabling industry players to interact with data and redefine legacy processes. GSBN intends to pursue the deployment of "Cargo Release" as its first product. During an initial pilot this product was very well received by a wide range of customers, within the context of the pandemic, as it allowed a “no touch” and hourly process for a traditionally very manual and a days-consuming cargo release process. GSBN also plans to use shipping data to power trade finance. As global trade does not rely only on logistics but also on trade financing, GSBN intends to establish network to network connection with trade finance (banks and other fintechs), to provide a better user experience for the ultimate customer. 

GSBN is open to all. GSBN thinks the members who will find joining GSBN the most attractive are logistics service providers (such as Shipping Line, Terminal Operators, Freight Forwarders, Shippers), Import/Export Trading Companies, BCOs, Commercial Banks and Government Authorities (Port Authorities, Customs). Only by collaborating with a broad spectrum of stakeholders in global trade, can the value of digitalization be truly unlocked. GSBN invites interested parties to partner with it on creating new data products for the whole industry.