Indian E-Commerce Giant Partners With Blockchain Logistics and Shipping Platform

India’s largest e-commerce firm, mjunction services limited, has entered into a strategic partnership with blockchain shipping firm Shipnext, global maritime news agency Sea News reports Feb. 20.

The new partnership intends to boost efficiency across mjunction’s supply chain, bringing value-added services to its clients, mjunction CEO Vinaya Varma said.

Alexander Varvarenko, founder and CEO of Shipnext, said that mjunction’s large cargo base is expected to attract more traffic, shipowners and ship operators to Shipnext platforms.

Mjunction services ltd is a joint venture of two Indian steel giants – the Steel Authority of India (SAIL) and Tata Steel. Mjunction is reportedly India’s largest e-commerce firm, in addition to operating the world’s largest electronic marketplace for steel. The company has also moved into business spheres such as e-finance, e-retail and other services.

According to Sea News, shipowners or ship operators who wish to participate in the transportation of cargo by major Indian shipment providers such as Tata Steel and Indian Steel Bord can register on the Shipnext platform. Within the agreement, Shipnext will manage Know Your Customer (KYC) procedures of shippers.

Recently, Russian shipping logistics company Infotech Baltika announced the development of a blockchain-enabled system to operate with ports. The project is a part of partnership between the company and Moscow-based blockchain startup Iconic.