IBM, Maersk launches blockchain-based shipping platform with 94 early adopters | Asia networks

After launching a demonstration of the concept at the start of this year, IBM and
Maersk presented TradeLens, the production version of a
electronic register to track global shipments; The companies
they say they have 94 participants piloting the system, including others
of 20 port and terminal operators.

The jointly developed electronic shipping log records details
shipments of goods that leave their origin, arrive in ports,
they are sent abroad and finally received.

During the transport process, all the parties involved in
The supply chain can display tracking information such as shipping
arrival times and documents such as customs, commercial exits
invoices and bills of lading in near real time through the
authorized blockchain register.

More than 160 million of these shipping events have been captured
the platform, according to IBM and Maersk. "These data are growing
at a rate of almost a million events a day, "companies
He said.

Traditionally, information from the international maritime industry
the systems used paper legal documents and electronic data were
transmitted via electronic data interchange (EDI) – a 60 year old
technology that does not represent data information in real time.

Shipment participants also shared documents by email, fax
and courier

When information is manually entered or scanned, TradeLens can
keep track of critical data about each shipment in a supply chain and
offers an immutable record among all the parties involved, the
companies have said.

Some shipping posters can also be moved via an & # 39; API on
TradeLens platform, so that manufacturers and others in the
the supply chain has more timely information and better visibility
at the trial.

Together with freight forwarders, transport companies and
logistics companies, more than 20 port operators and terminals
using or agreed to drive TradeLens, including PSA Singapore,
International Container Terminal Services Inc., Patrick Terminals
and Modern Terminals Ltd. in Hong Kong. Customs authorities a
The Netherlands, Saudi Arabia, Singapore, Australia and Peru
also participating.

"This represents around 234 maritime gateways worldwide
who have or will actively participate in TradeLens, "IBM
He said.

Modern Hong Kong terminals have become beta partners of
TradeLens blockchain at the beginning of this year.

"Digitized documentation that can be at the same time
authenticated will reduce costs and increase the supply chain
security, "said Modern Terminals CEO Peter Levesque via email.

As a port operator, modern terminals do not need to track
shipments outside its operating environment, but retains the
state of the containers entering and leaving its terminals via a
Terminal Operating System (TOS), many of which use EDI and
Wireless LAN and Radio Frequency Identification (RFID) a
monitor the movements of the load. The company manages approximately 5.5 million
shipping container in the year at its Hong Kong business unit.

The documentation accompanying a cargo container from
The factory floor to store the shelves is bulky and open, Levesque
He said. An electronic blockchain-based ledger will provide
platform where you can view all the documentation along the way
and updated in near real time and in a secure environment
authorized participants in the supply chain.

It will also provide agents for customs, trade and border patrols
all over the world "a higher degree of certainty about what is inside
the box and who loaded it, "added Levesque.

"Modern terminals intend to be a regular user of the solution once
full development and tests are complete, "said Levesque
I started scratching the surface only on what we can use blockchain
technology for the transport and logistics industry.
Address the opportunity to improve the transmission of
documents all over the world is a great start. The next decade
development will be exciting to watch. "

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