Logistics giant registered in Switzerland CEVA Logistics announced its participation in the joint blockchain platform of IBM and Maersk TradeLens in a press release on 10 August.
Partners presented TradeLens, dedicated to improving maritime supply chains, earlier this week. CEVA said the platform constituted its "response to the untapped potential of blockchain applications in the logistics sector".
CEVA CEO Xavier Urbain noted in the press release that they see "the high potential" in TradeLense being the "real time" access it provides to all supply chain partners, "adding
" It is a big step towards defining a market standard for blockchain solutions. "
CEVA, which has annual revenues of $ 7 billion, is one of 90 organizations came on board of TradeLens, with the company suggesting that this was by no means the full extent of its blockchain plans. The CEVA press release stated that "other initiatives are in the pipeline and are currently under evaluation and are expected to start providing solutions in the coming months."
Naval supply chains have long focused on simplification through Innovation thanks to blockchain technology  As previously reported by Cointelegraph, TradeLens started as a pilot project in March 2017, while other schemes have started to work with the goal of using the blockchain to reduce costs, practices bureaucracy and timing, improving security.