IBM & Maersk Launch TradeLens Blockchain Shipping Platform

The information technology and services giant IBM announced last week that it has collaborated with the logistics company Maersk to create a blockchain shipping platform called TradeLens.

The platform is designed to promote “a more efficient, predictable and secure exchange of information in order to foster greater collaboration and trust across the global supply chain.”

The companies also revealed that, as part of TradeLens' early adoption program, 94 organisations are actively involved, or have agreed to participate in the near future, on the platform.

What is TradeLens?

TradeLens uses IBM blockchain technology as a basis for digital supply channels, enabling multi-business partners to collaborate by establishing a unique shared view of a transaction. This actually allows shipping companies, freight forwarders, ports, terminal operators, inland transport and customs to interact more effectively through real-time access to shipping data and shipping documents.

Blockchain can play an important role in digitizing global shipping, a sector where billions of dollars of goods change hands each year. The success of the technology, however, relies on one factor - regrouping an ecosystem around a common approach that enables every stakeholder to be satisfied.

The platform is still being beta tested, and should be available at the end of this year.

 
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