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NETHERLANDS-MAERSK MCKINNEY MOLLER-ARRIVAL 2013 AFP
Some of the largest companies of supply chain in the world began the process of moving their work into a blockchain.A formerly nameless collaboration effort between the world's largest shipping company, Maersk and IBM, has now grown to 92 participants and has been dubbed : TradeLens.
Far from a prototype, the blockchain platform has quietly orchestrated global trade with less reliance on intermediaries for a year, causing 154 million shipping events in ports around the world, and is now growing at a rate of a million a day.
The commitment now also includes Hamburg Sud, based in Germany, which Maersk bought last year for $ 4 billion and Pacific International Lines co It is based in the United States, along with numerous customs authorities, freight owners and freight forwarders.
Collectively, shipping companies account for more than 20% of the global supply chain market share, with 20 port operators and terminals in Singapore, the United States, the Netherlands and beyond, serving 235 maritime ports worldwide.
But perhaps more important, to date, the platform is emerging from its beta test, is now accepting early adopter applications and is announcing a new personalized smart contract service for the execution of complex shipping orders with less intermediaries.
"We've seen a lot of skeptics talking about the validity of blockchain solutions," said IBM's chief executive and blockchain chief, Marie Wieck. "And I think that with over 90 organizations and over 150 million events captured in the system we're really seeing evidence in the pudding in terms of where people are spending their time to benefit from the blockchain."
TradeLens offers users access to their own blockchain node similar to those of the bitcoin blockchain that allows users to send money without the need for banks. But in the case of TradeLens, a shipper can withdraw up to five brokers, even for simple queries such as identifying the position of a shipping container.
What is at stake is what Transparency Market Research provides for & nbsp; by 2026 will be a global business in the supply chain of $ 32.9 billion. Already in 2015 the World Trade Organization estimated that simplification of the global supply chain could reduce costs among users by 17.5%, with developing nations they expected to see a 35% increase in exports while jumping on legacy technology platforms.
"We think this really levels the playing field in terms of accessing participants to a global platform, as well as sharing information economically," said Wieck. "The ladder he's building here is making it even more accessible."
While the exact potential savings vary, Wieck says that users can reduce up to 40% on shipping by compressing the time between each pass almost to zero, and saving "Thousands of Dollars" per transaction. In addition, Wieck expects that users will be able to collaborate more effectively by having a real-time view of the products to be shipped and the position of the empty containers closest to each other.
"TradeLens is taking advantage of blockchain as a technology for sharing information sharing," said Wieck. "Whatever may be required by customs and regulators to ensure an efficient and secure trade, all this information is available in real time to the participants."
As part of this effort, the customs authorities of Saudi Arabia, Singapore, Australia and Peru have also agreed to use TradeLens in various capacities. Among the most significant agencies to join is the Dutch customs administration, which plans to manage 15 million sea containers this year and which can facilitate up to a third of all trade in Europe, according to the head of commercial relations of the agency, Frank Heijmann.
Heijmann states that TradeLens has been tested in the context of a research project on the safety of the European Union, called Core, with the Dutch and Belgian Customs and the US Customs Protection (CBP) "on a scale Limited with few companies in a few trade exchanges However, despite the limited scope, Heijmann states that "it is proven that the system has its value for exchanges and customs, so now it will be time to expand" its use in parallel with current risk mitigation systems [19659004] "Perhaps in the long run, data pipelines can even take the current customs declarations, once the information has proved to be sufficient and reliable."
To generate that data , both IBM and Maersk are running a node on the distributed ledger, with each of the oceanic vectors, should also be connected.To simplify future additions, a series of Application Lab (API) will be released today along with the beta version of the smart contract platform, ClearWay, which
Unlike bitcoin blockchain and other "unlicensed" blockchains such as ethereum and zcash, IBM and Maersk are charging for access the TradeLens distributed ledger. Even if access prices have yet to be consolidated, they are likely to adhere to industry standards by applying a per-container tariff. The functionality of the ClearWay intelligent contract will be established separately
. Until then, however, the cooperation effort between Maersk and IBM will still require profits. To do this, the pair of companies has moved their business model from previous plans for an independent joint venture. Instead, the commercial operations of IBM and Maersk are now largely managed separately, with intellectual property including TradeLens in co-ownership and joint development.
But the new "cooperative" structure could unnerve some potential customers. The original purpose of the joint venture was to create a crucial sense of distance between the founding companies and their competitors who could also benefit from the platform. To help offset these concerns, Maersk's CEO, the New Jersey-based TradeLens operation, Mike White, said several barriers were introduced, including contractual restrictions on data sharing and technical barriers. in the form of independently managed blockchain nodes.
If successful, TradeLens could literally embody the common refrain among blockchain users that "all ships will go up" when they use a shared and distributed ledger. Faced with the reduction in global freight rates, Maersk in the last quarter became only the last shipper container to cut profit forecasts.
Among the competitors who aim to cut costs and increase profits is the former head of blockchain at accounting firm Big Four Deloitte, who at the start of this year announced which was collecting $ 100 million to launch a platform supply chain that uses the blockchain ethernet and the startup blockchain Fr8, which is preparing to raise $ 60 million through an initial offer of coins to build its own logistics platform blockchain.
"The value proposition is for all participants in the ecosystem," said White, who previously worked as the CEO of Maersk North America. "The ability to achieve better access to more data in real time, to have better end-to-end visibility, to be able to connect one to many in a more efficient and effective way, lowers the costs of obtaining such information, it makes it possible to better manage its business, and makes the ability to assist customers much stronger. "
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NETHERLANDS-MAERSK MCKINNEY MOLLER- ARRIVAL 2013 AFP
Some of the world's largest supply chain companies have begun the process of transferring their work to a blockchain – a previously nameless collaboration effort between the world's largest shipping company, Maersk and IBM, has now grown to 92 participants and has been dubbed: TradeLens.
Far from an initial prototype, the blockchain platform has quietly orchestrated global trade with less reliance on intermediaries for a year, causing 154 million shipping events in ports all over the world, an Hour is growing at a rate of one million per day.
The cooperative effort now also includes the South Hamburg based in Germany, which Maersk acquired last year for $ 4 billion and Pacific International Lines based in the United States, along with several customs authorities, owners of loads and shippers.
Overall, shipping companies account for over 20% of the global supply chain market share, with 20 port operators and terminals in Singapore, the United States, the Netherlands and beyond, with 235 ports worldwide.
But perhaps even more important, to date, the platform is emerging from its beta test, is now accepting early adopter applications and is announcing a new intelligent personalized service for the execution of complex shipping orders with less intermediaries .
"We've seen a lot of skeptics talking about the validity of blockchain solutions," said IBM's chief executive and blockchain chief, Marie Wieck. "And I think that with over 90 organizations and over 150 million events captured in the system we're really seeing evidence in the pudding in terms of where people are spending their time to benefit from the blockchain."
TradeLens offers users access to their own blockchain node similar to those of the bitcoin blockchain that allows users to send money without the need for banks. But in the case of TradeLens, a shipper can withdraw up to five brokers, even for simple questions such as identifying the position of a shipping container.
What is at stake is what Transparency Market Research expects will be a global supply of $ 32.9 billion of chain software business by 2026. As of 2015, the World Trade Organization has estimated that the simplification of the global supply chain could reduce costs among users by 17.5%, with developing nations expecting a 35% increase in exports as they jump back on legacy technology platforms.
"We think this really levels the playing field in terms of accessing participants to a global platform, as well as sharing information economically," said Wieck. "The ladder he's building here is making it even more accessible."
While the exact potential savings vary, Wieck says that users can reduce up to 40% on shipping by compressing the time between each pass almost to zero, and saving "Thousands of Dollars" per transaction. In addition, Wieck expects that users will be able to collaborate more effectively by having a real-time view of the products to be shipped and the position of the empty containers closest to each other.
"TradeLens is taking advantage of blockchain as a technology for sharing information sharing," said Wieck. "Whatever may be required by customs and regulators to ensure an efficient and secure trade, all this information is available in real time to the participants."
As part of this effort, the customs authorities of Saudi Arabia, Singapore, Australia and Peru have also agreed to use TradeLens in various capacities. Among the most significant agencies to join is the Dutch customs administration, which plans to manage 15 million sea containers this year and which can facilitate up to a third of all trade in Europe, according to the head of commercial relations of the agency, Frank Heijmann.
Heijmann states that TradeLens has been tested in the context of a research project on the safety of the European Union, called Core, with the Dutch and Belgian Customs and the US Customs Protection (CBP) "on a scale Limited with few companies in a few trade exchanges However, despite the limited scope, Heijmann states that "it is proven that the system has its value for exchanges and customs, so now it will be time to expand" its use in parallel with current risk mitigation systems [19659004] "Perhaps in the long run, data pipelines can even take the current customs declarations, once the information has proved to be sufficient and reliable."
To generate that data , both IBM and Maersk are running a node on the distributed ledger, with each of the oceanic vectors, should also be connected.To simplify future additions, a series of Application Lab (API) will be released today along with the beta version of the smart contract platform, ClearWay, which
Unlike bitcoin blockchain and other "unlicensed" blockchains such as ethereum and zcash, IBM and Maersk are charging for access the TradeLens distributed ledger. Even if access prices have yet to be consolidated, they are likely to adhere to industry standards by applying a per-container tariff. The functionality of the ClearWay intelligent contract will be established separately
. Until then, however, the cooperation effort between Maersk and IBM will still require profits. To do this, the pair of companies has moved their business model from previous plans for an independent joint venture. Instead, the commercial operations of IBM and Maersk are now largely managed separately, with intellectual property including TradeLens in co-ownership and joint development.
But the new "cooperative" structure could unnerve some potential customers. The original purpose of the joint venture was to create a crucial sense of distance between the founding companies and their competitors who could also benefit from the platform. To help offset these concerns, Maersk's CEO, the New Jersey-based TradeLens operation, Mike White, said several barriers were introduced, including contractual restrictions on data sharing and technical barriers. in the form of independently managed blockchain nodes.
If successful, TradeLens could literally embody the common refrain among blockchain users that "all ships will go up" when they use a shared and distributed ledger. Faced with the reduction in global freight rates, Maersk in the last quarter became only the last shipper container to cut profit forecasts.
Among the competitors who aim to cut costs and increase profits is the former head of blockchain accounting company Big Four, Deloitte, which at the start of this year had announced it had raised $ 100 million to launch a supply chain platform using the blockchain ethereum and blockchain the Fr8 startup that is preparing to raise $ 60 million through an initial offering of coins to build its own blockchain logistics platform.
"The value proposition is for all participants in the ecosystem," said White, who previously served as CEO of Maersk North America. "The ability to achieve better access to more data in real time, to have better end-to-end visibility, to be able to connect one to many in a more efficient and effective way, lowers the costs of obtaining such information, makes it possible to better manage its business and make customer support much stronger. "
