World No. 2 Shipping Company joins blockchain logistics platform jointly developed by IBM and Maersk

According to Reuters reported on May 28, the world's second largest shipping company, Swiss Mediterranean Shipping Company (MSC) and the fourth largest container shipping company CMA-CGM have joined the world's largest logistics company Maersk (Maersk) ) TradeLens, a blockchain platform developed jointly by technology giant IBM.


(From: Unsplash )

According to reports, more than 80% of the goods in the logistics industry are transported by sea. The cost of paperwork and related costs is 4 trillion US dollars, accounting for nearly 20% of the cost of transport containers. The blockchain transportation solution TradeLens aims to reduce the paperwork. The cost.

According to Reuters, by joining the platform, MSC and CMA CGM will use distributed ledger technology (DLT) to track nearly 50% of all seaborne cargo.

Vincent Clerc, executive vice president of Maersk, believes that the addition of MSC and CMA CGM to the TradeLens platform will change the rules of the game. He pointed out that shipping companies must do a lot of paperwork, but they can't clearly understand the real-time status of their shipments.

CMA CGM and MSC will run blockchain nodes based on the Hyperledger Fabric distributed ledger and participate in negotiations to verify transactions. Therefore, they will play a key role as a trust anchor or verifier for the network. IBM said that CMA CGM and MSC will become members of the TradeLens Advisory Board to improve the neutrality of the platform.

Rajesh Krishnamurthy, executive vice president of IT and transformation at CMA CGM Group, said in a statement:

We believe TradeLens is committed to open standards and open governance and is an important platform for driving digital transformation. Participants in the entire supply chain ecosystem can gain significant value through the TradeLens network.

Andrea Chief Digital Information Officer André Simha added:

The TradeLens platform has the potential to digitize the supply chain in the logistics industry and collaborate to establish common standards. We believe that standards bodies such as the TradeLens Advisory Board and the Digital Container Transport Association will speed up this process.

In August 2018, Maersk and IBM launched the blockchain transportation solution TradeLens. About 100 global organizations participated in the event, recording a total of 154 million transportation events. The platform integrates IoT and sensor data to track multiple variables such as container and temperature control and container weight.

Recently, the World Economic Forum has partnered with more than 100 global supply chain and logistics leaders to standardize blockchain applications in the industry. According to reports, the project includes more than 20 governments, as well as major shippers and supply chain suppliers including Maersk, Hitachi and Mercy Corps.