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PSA, PIL, IBM on Blockchain Development


(Aiswarya Lakshmi – Maritime Logistics Professional)

Three companies signed a Memorandum of Understanding (MOU) today to explore and trial proof of concept (POC) blockchain-based supply chain business network innovations.

The MOU was signed by Ms Lisa Teo, Executive Director (Corporate Development) of PIL; Mr Oh Bee Lock, Head of Group Technology, PSA; and Ms Janet Ang, VP Industry Solutions & Smarter Cities of IBM Asia Pacific.

The three parties will work together to explore POCs using technologies like blockchain to achieve better security, efficiency and transparency in regional supply chain business networks, as well as connect to trade finance solutions that can facilitate faster approval and fraud prevention. Click here to read more.