Blockchain is increasingly being explored by enterprise for efficient solutions

Danish based Moller-Maersk the world’s largest container shipping company is collaborating with IBM to integrate blockchain technology into the global supply chain.

Together they have created and released TradeLens a blockchain platform operating through IBM’s cloud offering.

TradeLens uses the blockchain to build smart contracts which allow multiple groups to work together with a single shared view of transactions that doesn’t break standards around privacy and sensitive data.

Writing in the release IBM note how companies utilising blockchain smart contracts and TradeLens enable: “importers/exporters, customs brokers, trusted third parties such as Customs and NGOs to collaborate in cross-organizational business processes and information exchanges, all backed by a secure, non-reputable audit trail.”

Maersk and IBM have made the APIs for the entire solution open, this is to help foster an environment of innovation with regards to the platform.

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