Despite the termination of Maersk's blockchain-based supply chain platform, the Global Shipping Business Network (GSBN), a Hong Kong-based consortium focused on blockchain trade applications, is optimistic about blockchain's potential as a key tool in logistics in the long term. The majority of the members are based in mainland China or Hong Kong, with the exception of German-based Hapag-Lloyd and Singaporean-based PSA International. Bertrand Chen, the CEO of GSBN, is optimistic about the potential of blockchain technology in the logistics industry despite similar projects being terminated by major companies like Maersk. Additionally, Chen noted that China is leading the way in blockchain logistics due to significant investment in the industry, and this investment will benefit GSBN by generating potential partners for the firm. Despite China's prohibition on crypto, some government-affiliated companies in China have displayed interest in investing in crypto.

Source: Forbes April 12, 2023 00:51 UTC