Sun. Jul 12th, 2020

IBM and Maersk put shipping information on the blockchain platform for real-time tracking

2 min read

Although many countries and regions do not want to see virtual currency such as bitcoin, this does not affect the research and practical application of blockchain technology in various industries.

Recently, IBM is working with international shipping giant Maersk to develop a digital data management system based on blockchain technology.

In the past, every shipping company had its system but only had access to its shipping data, and many of the goods could be split and shipped through multiple companies.

If customers need to understand the shipping dynamics, they have to call each shipping company or send an email to find out where their goods are now.

Image: By Matthäus Wander [CC BY-SA 3.0 ], from Wikimedia Commons

TradeLens shipping blockchain platform:

To solve such problems, IBM and Maersk took the lead in launching a shipping blockchain platform to integrate data from various shipping companies and trading companies.

The system has all the transport information including shipping companies, shipping routes, arrival times, inland transportation routes and customs declarations.

Each company only needs to be responsible for submitting its information to the blockchain platform in real time, and the shipper can use the platform to view the dynamic cargo information in real time.

Increase credibility through blockchain:

Even if you don’t go through the blockchain platform, you can use other network technologies to build such platforms, but apparently, shipping companies are worried that their data leaks are unwilling to share.

Now through IBM’s blockchain platform, each company can only master its API interface and can submit its shipping data and cannot tamper with it.

The blockchain technology isolates each other’s data to ensure that only users can view their information, and in this way, global shipping data is fully digitized.

On the line, completed 154 million shipments in one year:

In the past, IBM and Maersk have been testing for a long time, and 94 industry-leading shipping companies have been involved in construction and data sharing.

At the same time, it includes several port traders from all over the world and customs from the Netherlands, Singapore, Australia, Peru and other countries and regions to participate in the construction of the blockchain platform.

The TradeLens system has now completed 154 million shipments, and all companies related to transportation materials can obtain shipping information in real time.

The TradeLens system is currently undergoing final phase testing and is open to use by some partners and is expected to be available to all operators worldwide by the end of the year.

Via: VentureBeat