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.