The technological giant IBM and the largest shipping company Maersk A.P. Mller - Mrsk B A / S DKK have launched a system called TradeLens which is based on the Blockchain technology to facilitate the system of shipping merchandise around the world.
After a trial period of 12 months the IBM company has said that the system has responded successfully to the request of shipments working under arduous situations which range from normal shipments to complex transnational systems.
In an official press release issued by the IBM company they highlight the effectiveness of the system. IBM a company with scalability problems in recent years took a 180 degree turn by adopting the Blockchain technology for logistics solutions.
Release
"We believe that Blockchain can play an important role in the digitalization of global maritime transport, an area of the global economy that moves four trillion dollars of merchandise each year. However, success with technology rests on a single factor: uniting the entire ecosystem around an approach that benefits all participants equally, "said Bridget van Kralingen, senior vice president of IBM Global Industries, Solutions and Blockchain. "Our work with Maersk and other companies in the shipping ecosystem has shown that blockchain can be used to form a strong and connected network in which all members gain by sharing important data and that together we can transform a vital part of how the global commerce "
The technology behind cryptocurrencies has been the focus of company attention in the logistics and cargo area due to its effectiveness and transparency in the operation.