IBM and shipping company Maersk have teamed up and developed a blockchain shipping solution called TradeLens
According to the press release, the blockchain-enabled shipping solution has been designed to promote more efficient and secure global trade & to support information sharing and transparency
94 organizations are thought to be already actively involved or have agreed to participate on the TradeLens platform
“TradeLens uses blockchain technology to create an industry standard for the secure digitization and transmission of supply chain documents around the world,” commented Peter Levesque, CEO of Modern Terminals. “This initiative will generate tremendous savings for our industry over time while enhancing global supply chain security. Modern Terminals is pleased to participate as a Network Member in testing this exciting shipping industry innovation.”
“We believe blockchain can play an important role in digitizing global shipping, an area of the global economy that moves four trillion dollars of goods every year” said Bridget van Kralingen, senior vice president, IBM Global Industries, Solutions and Blockchain.