Blockchain company

Basic facts

An industry-wide, open trade platform using blockchain technology aimed at improving the current cost of transportation, lack of visibility and inefficiencies with paper-based processes.

In January 2018, Maersk and IBM announced the intention to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. The new company aims at bringing the industry together on an open global trade digitization platform that offers a suite of digital products and integration services.
The platform is currently being tested by a number of selected partners who all have interest in developing smarter processes for trade. IBM and Maersk plan on expanding the network, to a fully open platform whereby all players in the global supply chain can participate and extract value. Within six months of receiving regulatory approval, the services are expected to be available for wider use. Among those interested in using the entity’s blockchain solution are General Motors, Procter & Gamble and Agility Logistics, with additional participation from customs and government agencies from Singapore, Peru and China.


Why Blockchain?

The platform is based on IBM’s Hyperledger Fabric and the Linux Foundation Ecosystem. The common goal is to connect and provide benefits to the supply chain ecosystem. A global network of interconnected shipping corridors linking the ports and terminals, customs authorities, shipping lines, third-party logistics, inland transportation, shippers and other actors, all together.

Through the disruption of the shipping industry and the whole supply chain management, participants will benefit from a shared, trusted record of transactions, save money and better compete on enhanced services.



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