Hong Kong has recently become a leader in blockchain logistics after the termination of Maersk's TradeLens platform. The Global Shipping Business Network (GSBN) is currently the world's largest blockchain-based shipping platform and is partnered with major companies such as Cosco, OOCL, and Hapag-Lloyd, with the only non-China and Hong Kong based partners being Hapag-Lloyd and PSA International. Billions of dollars have been poured into China's blockchain industry as it is a priority for the government and as this investment continues, more and more global partners are joining the GSBN.

Despite the widespread adoption of blockchain, GSBN leadership still believes that it could take up to a decade before the technology is seen everywhere. CEO Bertrand Chen has cited issues such as the COVID-19 pandemic as reasons for the adoption of the technology, allowing for increased communication among companies to help control and manage demand.

GSBN's ambition is to attract more companies from around the globe and with the increasing prevalence of the Web3 movement and cryptocurrency usage in Hong Kong, the organization hopes to bring on board one of the biggest names in the field, Maersk. Their involvement in the project is still seen as a potential challenge but the willingness and desire of GSBN bring as much as possible onto their platform keeps growing.

Overall, China's investment in blockchain development has helped push Hong Kong towards the forefront of blockchain-powered logistics. With the government actively regulating in the space, more and more companies and partnerships join GSBN every day to benefit from the tech's potential. GSBN leadership hopes that within the next ten years, blockchain will become an industry norm and the future of logistics will be changed forever.



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