Maersk and IBM digitise shipping industry
IBM and Maersk plan to launch blockchain technology platform that will digitise the shipping industry and all the documentation that goes with it. The technology will be made available to the shipping and logistics industry to help manage the paper trail of tens of millions of shipping containers across the world by digitising the supply chain process from end-to-end. Global trade digitisation solution will benefit the industry using blockchain to manage transactions among network of shippers, freight forwarders, ocean carriers, ports and customs authorities The blockchain solution based on the Hyperledger Fabric and built by IBM and Maersk, the global leader in transport and logistics, will be made available to the shipping and logistics industry. The solution is designed to help reduce fraud and errors, reduce the time products spend in the transit and shipping process, improve inventory management and ultimately reduce waste and cost. The solution enables the real time exchange of original supply chain events and documents through a digital infrastructure, or data pipeline that connects the participants in a supply chain ecosystem.