IBM And Maersk’s Global Blockchain Shipping Platform “TradeLens” Continues To Onboard Major New Glob
TradeLens, IBM and Maersk’s global blockchain shipping platform, continues to onboard major new global partners. TradeLens is a global supply chain management platform designed for containerized freight and logistics, which was first launched by IBM and Maersk back in April 2018.
It works by providing standards-based open APIs that allow supply chain data to be immutably and securely tracked and shared using a permissioned blockchain.
It has been reported that Turkish-owned YILPORT Holding, which operates 22 terminals and 6 inland terminals across 11 countries, began integrating data from its Gebze and Gemport terminals in Turkey with TradeLens in July 2020.
However, the terminals operator will be able to access data flows to help with the more efficient management of assets and containerized cargo.
As per the report, six main messages will be operational in the API-supported data exchanges between Yilport and the platform, “gate in, gate out, vessel load, vessel discharge, actual load date list, and actual discharge date list.”
.@IBM and @Maersk’s #blockchain shipping platform TradeLens signs on Yilport Holding — the Turkish-owned operator of multiple international terminals https://t.co/eCGr8s6exO — Cointelegraph (@Cointelegraph) August 18, 2020
Through TradeLens, this container shipping-related data is accessible on the permissioned blockchain for a range of different stakeholders across the supply chain, such as shippers, agencies, port operators, customs authorities, or financial service providers.
It has been analyzed that IBM and Maersk’s pioneering initiative has been engaged in coordinating various government agencies and customs authorities from across the globe, attracting participants from Indonesia, Thailand, Azerbaijan, the United States, and Canada, among others.
Thus, the World Economic Forum recently published a report looking into the deployment of blockchain-based solutions for supply chains, whose fragility was starkly exposed during the pandemic.