Major Asian Shipping Terminal Joins TradeLens Blockchain Platform
December 21, 2019
Major Asian Shipping Terminal Joins TradeLens Blockchain Platform
December 21, 2019

Cái Mép International Terminal (CMIT) of Vietnam has joined the TradeLens blockchain platform.

On Dec. 19 a local publication made the announcement. CMIT is located in Ho Chi Minh City of Vietnam.

CMIT is one of the largest terminals in the Cái Mép-Thị Vải deep-water gateway port complex that provides a direct link from Vietnam to European, North American and Asian markets.

The general director of CMIT Jan Bandstra said that the decision to join the blockchain-based program was driven by customer demand for instant shipping data. Having transparent, accessible cargo data is essential for the complexities of the global shipping industry.

CMIT deputy director Nguyen Xuan Ky added:

“A seafood container export from Vietnam to the U.S. has more than 30 shipping milestones and shipment data at more than 10 relevant entities with requirement of close tracking […] real-time information sharing at different stages by different entities in global supply chain will increase considerable efficiency for global trade flows.”

TradeLens- Developed In Partnership With IBM and Maersk

TradeLens platform is the leading the industry standard in the global shipping industry. Developed in partnership with IBM and Maersk, the open and neutral blockchain-based platform aims to streamline labyrinthine supply chains. 

ALSO READ :  Ben Askren Says ‘I think XRP is a scam’

On a Sept. report Thailand custom agency fused with IBM Maersk’s Tradelens. The merger is expected for an establishment of a well-organized tracking and information sharing.

Meanwhile, the Singapore Shipping Association, the International Chamber of Commerce and blockchain firm Perlin are working together on an e-registry for ship registration and renewal process.

Source: Cointelegraph | CMIT


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.