Nowadays over 90 organizations are participating in global trade solutions in which over more than 154 million events have been recorded on the platform which is diversifying day-by-day. Recently for the world’s global supply chain A.P. Moller – Maersk and IBM together announced the creation of TradeLens after a follow up to their January announcement.
TradeLens is a blockchain based shipping solution that has come into effect after the collaboration agreement signed between IBM and Maersk. The solution will directly help in promoting secure and efficient global trade and help other trading parties to share information transparently.
The main motto of TradeLens is to:
- Enable supply chain
- Promote more official and secure global trade
- To bring together to various parties supporting each other
Over 94 organizations have agreed to participate in TradeLens which is built on open standards. TradeLens ecosystem includes the following:
PSA Singapore along with more than 20 ports and terminal operators around the globe, International Container Terminal Services Inc, Modern Terminals in Hong Kong, Patrick Terminals, Port of Rotterdam, Port of Halifax, PortConnect, PortBase, Port of Bilbao, and terminal operators Holt Logistics at the Port of Philadelphia also joined the universal workstation’s network of APM in piloting the solution. Approximately 234 marine gateways around the world are expected to actively participate in TradeLens.
In the solution of global container carriers, Hamburg Süd and Maersk Line have also joined with PIL (Pacific International Lines).
The innovative idea of IBM in blockchain has been utilized by TradeLens to engage with countless exchange accessories, to design a squad for providing assistance in the business. Due to this, a lot of business authorities will have a chance of accessing detailed information about the delivery and the transportation. Not only it reflects the local traders but also it will help the traders across the globe to mingle and gather alternative information.
In the trial period of 12 months, errors in documentation and information passes were authorized by the partnership of IBM and Maersk. Using this there might be a change of revolutions in operations and customer field. As this will guide business ventures easily to answer to basic queries of customers.
The API is completely related to shipping business so it is very easy for the developer to take an advantage over it and develop an efficient application. Various guidelines in the line help them to put things together for the developers.
The application programme interface that is designed was only available to the engineers and aload from its members earlier. Now TradeLens solution is available through Early Adopter Program. By the end of 2018, the solution is expected to be fully commercially available.
There are lots of shipping services companies who are doing their shipping business globally but Maersk has emerged as the global ruler in shipping services. It is now successfully offering shipping services across 130 countries with the help of around 76,000 employees as a team.
Now it’s IBM who has done a tremendous growth for the enterprises in the blockchain field. IBM has become ruler in the field of the blockchain. There is no uncertainty that there are 400 clients across various domains of its services like financial services, risk management and lot more.