Jointly developed by the two companies to apply blockchain to the world's global supply chain, the platform - called TradeLens - is designed to promote more efficient and secure global trade and spur industry-wide innovation. The two companies also announced that, as part of the TradeLens early adopter program, 94 organizations are actively involved or have agreed to participate on the TradeLens platform
"We believe blockchain can play an important role in digitizing global shipping, an area of the global economy that moves four trillion dollars of goods every year," says Bridget van Kralingen, senior vice president, IBM Global Industries, Solutions and Blockchain. "However, success with the technology rests on a single factor – bringing the entire ecosystem together around a common approach that benefits all participants equally."
"Our work with Maersk and other enterprises in the shipping ecosystem has shown that blockchain can be used to form a strong, connected network in which all members gain by sharing important data and that together we can transform a vital part of how global trade is conducted."
Built on open standards, the TradeLens ecosystem currently includes the following:
- More than 20 port and terminal operators across the globe, including PSA Singapore, International Container Terminal Services Inc, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase, and terminal operators Holt Logistics at the Port of Philadelphia, join the global APM Terminals' network in piloting the solution. This accounts for approximately 234 marine gateways worldwide that have or will be actively participating on TradeLens.
- Pacific International Lines (PIL) have joined Maersk Line and Hamburg Süd as global container carriers participating in the solution.
- Customs authorities in the Netherlands, Saudi Arabia, Singapore, Australia and Peru are participating, along with customs brokers Ransa and Güler & Dinamik.
- Participation among beneficial cargo owners (BCOs) has grown to include Torre Blanca/Camposol and Umit Bisiklet.
- Freight forwarders, transportation and