IBM Declares Launch of Blockchain Platform for Shipping

August 10, 2018

The US-based giant supplier of hard- and software International Business Machines together with shipping corporation Maersk has announced launching a distributed ledger-based platform aimed at tracking cargo shipping and monitoring data in the financial and customs sector.

The platform was named TradeLens and included 94 organizations and companies with around 20 ports and terminals in Rotterdam, Singapore and Hong Kong, customs services of Singapore, Australia and the Netherlands, logistics companies СЕVА, Logistic, Agility, DAMCO and some other large organizations.

Beta testing lasted for over a year. About 154 million processes have been executed in the course of development including cargo dispatch and arrival dates, paper transfer by the owner and transporter, etc.

TradeLens spokesmen explained, the primary difference when compared with conventional paper flow will be online exchange of all available data among all users involved in shipping with ultimate data security.

Note that tracking cargos is by far not the only function of the IBM corporation it plans to apply distributed ledger in. Earlier this year the organization declared launching a platform to track jewels (i.e. gold and diamond products).

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