Tesla Completes Blockchain Pilot In Its Chinese Supply Chain

Tesla Completes Blockchain Pilot In Its Chinese Supply Chain

Tesla Completes Blockchain Pilot In Its Chinese Supply Chain

Blockchain technology is already proving itself useful in many different industries. The latest proof comes from the Tesla blockchain pilot. Even though the pilot project has been happening for months, the details are only emerging now. As expected, the use of blockchain has yielded a lot of positive results.

Now, it remains to be seen just how Tesla will implement blockchain going forward. Tesla’s CEO and billionaire Elon Musk is a known supporter of crypto and blockchain. He even jokingly called himself CEO of Dogecoin once. To see one of his companies delve into the blockchain industry is an encouraging sign. It might only be a small taste of the things to come in the future.

The Pilot Project

The U.S. electric car manufacturer has been working with the Shanghai International Port Group (SIPG) on this project. Their objective was to test if blockchain can make the process of importing goods into China easier than usual. The details of the pilot project were finally revealed on Tuesday in an official announcement.

It was revealed that Tesla, SIPG and COSCO (Chinese cargo ship operator) were trialling a blockchain app in December 2019. The app allowed the sharing of documentation among the parties involved.

The test showed positive results as it reduced the cargo release time by streamlining the whole process. This makes it easier for Tesla to take ownership of goods as soon as they are offloaded. The nature of goods was not revealed. Nor did they talk about the type of blockchain they used in the process.

This will be immensely helpful for Tesla as their electric cars are in huge demand. In fact, the demand always outpaces supply. If blockchain can help speed things up, they can make faster deliveries and meet demand. Elon’s dream of transitioning the world to electric cars can become a reality quicker.

Now that the Tesla blockchain pilot is successful, blockchain-based logistics provider CargoSmart wants to test it further. New trials will take place in Asian ports like Qingdao, China, and in Laem Chabang, Thailand. CargoSmart also wants to create a consortium of sorts to run the DLT program.

However, Tesla’s plans with blockchain implementation are still a mystery. We might come to know more details in the future.

Blockchain In Supply Chain

As the world recovers from the coronavirus pandemic, it will require brand new solutions to speed things up. Things have been halted for way too long. So, even marginal improvements will result in huge differences.

Blockchain technology has already proven its mantle in the supply chain. Many companies have trialled their applications and witnessed encouraging results. What remains to be seen is a massive transition to the new technology which might create a race of sorts. Tesla’s test just might be the tipping point.

You can read more about blockchain with  these articles: 

Why should Canadians companies use Blockchain Technology

Revolution of blockchain in the transport sector

Tesla Completes Blockchain Pilot In Its Chinese Supply Chain

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