Monday, December 10, 2018Canada's Leading Online Business Magazine

Blockchain For Global Shipping

Maersk

CBJ — Nearly 100 companies and organizations have joined a blockchain platform developed by IBM in partnership with Maersk, the large international shipping conglomerate.

The partnership is aimed at improving efficiency and limiting the large paper trail of global container shipping in an industry that has seen very little innovation over the past 60 years.

Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platform, Maersk aims to expand its transport and logistics business in areas such as freight forwarding and trade finance. The initiative aims to provide end-to-end solutions for customers rather than just shipping a container from port to port.

The litmus test will be to see if other businesses within the industry buy into the idea.

@CanBizJournal

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