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Maritime News

Maersk and IBM to form joint venture applying blockchain to improve global trade and digitise supply chains

A.P. Moller  Maersk MAERSKb.CO and IBM NYSE IBM yesterday announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology.

The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones.

Maersk a global leader in container logistics and IBM a leading provider of blockchain supply chain visibility and interoperability solutions for the enterprise will use blockchain technology to power the new platform as well as employ other cloud based open source technologies including artificial intelligence AI IoT and analytics delivered via IBM Services in order to help companies move and track goods digitally across international borders. Manufacturers shipping lines freight forwarders port and terminal operators and customs authorities can all benefit from these new technologies and ultimately consumers.

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