Maersk and IBM form joint venture for Blockchain

The Danish shipping company MAERSK and the American technology group IBM yesterday announced their intention to set up a joint venture. The aim is to offer more efficient and secure methods for global trade by using blockchain technology. The new company’s mission is to provide a jointly developed digital platform for global trade, based on open standards and tailored to the global shipping ecosystem.

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Over $4 trillion of goods are shipped annually and over 80% of all goods consumed daily are shipped across the ocean. For many goods, the news spy maximum cost of the documents required to process the trade is one-fifth of the news spy costs. The World Economic Forum predicts that by removing barriers in international supply chains, world trade could grow by almost 15%, which would mean higher economic performance and more jobs.

The possibilities of blockchain technology provide an ideal basis for large networks with many different partners. They work in a similar way to a shared ledger and enable common, unchangeable records of all transactions that take place within this network. They also allow authorized partners to access trusted data in real time. It allows the various trading partners to have a common view of the transaction that has been approved by all, while at the same time ensuring trustworthiness and data protection.

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Maersk, a global leader in container logistics and IBM, a leading provider of blockchain, supply chain visibility and interoperable enterprise solutions, will use blockchain technologies and other cloud-based open source technologies, artificial intelligence, IoT and analytics applications for the new platform, which will be delivered through IBM Services like explained in this Bitcoin secret review. It is designed to help companies track the movement of their goods across international borders. Manufacturers, shipping companies, transport companies, ports, terminals and customs can all benefit – and ultimately Bitcoin secret.

“This new company represents a milestone in our strategic efforts to drive the digitization of global trade. The potential of a neutral, open digital platform for a secure and easy exchange of information is great and everyone along the supply chain can benefit from it. By combining our knowledge of commerce with IBM’s blockchain and enterprise technology capabilities, we believe this new company can make a real difference for the future of commerce,” said Vincent Cler, says Vincent Clerc, Chief Commercial Officer at Maersk and future CEO of the joint venture.

“The major advances IBM has made on blockchain show that this technology can drive the emergence of new business models and play an important role in how the world will work together to build smarter relationships in the future. Our joint venture with Maersk also means that we can now increase the speed to make this exciting technology available to millions of organizations that play an important role in one of the most complex and important networks – the global supply chain. We are confident that the blockchain will be used in this market as a leading technology to unlock new business opportunities”, says Bridget van Kralingen, Senior Vice President, IBM Global Industries, Solutions and Blockchain.