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Chaingo Twitter account, Sorenson is on the left, Garrido is the to the right.

Co-founders Andres Garrido and Jordan Sorensen are using Ethereum to help the unwieldy ocean freight industry to become more efficient, transparent and secure through the blockchain's decentralized system.

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The use of blockchain tech would be the biggest innovation in ocean freight since containerization, according to Rahul Kapoor, a Bloomberg Intelligence analyst based in Singapore. Key players in sea freight, such as AP Moeller-Maersk with ownership of almost 18% of the global liner fleet, are investing in blockchain and its multiple applications to optimize procedures and reduce operational costs. The transport and logistics sectors were valued at €2.7 trillion globally in 2016. Marine transportation accounted for €312 billion while logistics services brought in €658 billion, wi...

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