Maersk, IBM Launch Blockchain Shipping Supply Chain Platform

This aggregated story was originally published on this site. Follow the link in the word Story at left to read the full article.

IBM and Danish transport and logistics giant Maersk have launched their global blockchain-enabled shipping solution, according to an official press release today, August 9.

The new jointly developed blockchain solution revealed 94 organizations involved and 154 million shipping events already captured. The global supply chain platform has been dubbed ‘TradeLens,’ and its dataset is reportedly growing at a rate of close to one million shipping events a day. According to the press release, the platform is able to track critical data about each shipment in a supply chain in real time, generating a distributed, immutable record on the fly. TradeLens’ participants now include over 20 port and terminal operators worldwide, as well as international customs authorities, freight forwarders, logistics firms and cargo owners, the press release reports. It also counts global container carriers Hamburg Süd and Pacific International Lines as participants, alongside Maersk Line. As Forbes notes today, “collectively, the shipping companies account for more than 20% of the