A major port operator in Singapore has inked a deal to work with IBM and a regional shipping firm to test a new blockchain-based supply chain network.
Announcing the news, PSA International, which operates ports in Asia, South America, and Europe, said that it has signed a memorandum of understanding with IBM and Pacific International Lines (PIL), one of the largest liner services in the world.
The three firms will "work together to explore [proofs-of-concept] using technologies like blockchain," according to an announcement published.
The goal of the trial is to automate the flow of documents between trading partners, providing transparency along the way.
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