IBM Corp. and A.P. Moller-Maersk Group are establishing a new jointly owned company to promote and sell a blockchain-based system for managing global shipping.
The yet unnamed company will use a platform developed by the two companies as part of trial announced in March last year that involved digitizing Maersk’s shipping manifests and operations. The initial offering will include two blockchain-based options: a shipping information pipeline that provides a real-time, transparent view of merchandise movement and smart contracts that replace traditional paper-based processes.
“The objective of the platform is to connect and provide benefits to the supply chain ecosystem,” IBM said in a statement. “A global network of interconnected shipping corridors linking the ports and terminals, customs authorities, shipping lines, third-party logistics (3PLs), inland transportation, shippers and other actors, all together.”