Both companies will use blockchain technology to conduct, manage and track transactions in the shipping supply chain. Furthermore, they have created blockchain tools for cross-border transactions among shippers, freight forwarders, ocean carriers, ports and customs authorities.
The blockchain effort was built on the Linux Foundations open source Hyperledger platform, aiming to replace paper-heavy manual processes with blockchain to improve transparency and secure data sharing.
Maersk and IBM will work with the shipping supply chain to build a blockchain digital platform that will go into production later in 2017.
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