IBM Blockchain in use by Maersk (think largest shipping company in the world)!

15 October 2018 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel

Computerworld reported that “After launching a proof of concept earlier this year, IBM and Maersk have unveiled TradeLens, the production version of an electronic ledger for tracking global shipments; the companies say they have 94 participants piloting the system, including more than 20 port and terminal operators.” The August 17, 2018 report entitled “IBM, Maersk launch blockchain-based shipping platform with 94 early adopters” included the comments by IBM and Maersk “This data is growing at a rate of close to one million events per day” and these details.

More than 160 million such shipping events have been captured on the platform, according to IBM and Maersk.

Traditionally, the international shipping industry’s information systems have used paper legal documents, and electronic data was transmitted via electronic data interchange (EDI) – a 60-year-old technology that doesn’t represent real-time data information.

Shipping participants have also shared documents via email, fax and courier.

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

Great example of how supply chain management benefits from Blockchain!

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