Many have heralded the prowess of Blockchain, the “immutable” hero of technology in the shipping, freight and logistics space..
Blockchain has already been
- successfully used by Banks and Shippers to create Trade Finance documents ;
- creative enough that IBM and Maersk Line are investing in it;
- successfully used by companies to create and transmit smart bills of lading with it ;
Ports and port authorities have also got in on the Blockchain action with the port of Valencia joining the TradeLens project, the technological solution developed by IBM and Maersk to start applying blockchain technology in the global supply chain and the port of Marseille Fos piloting a blockchain based project for supply chain logistics and intermodal freight movement on the Mediterranean-Rhône-Saône axis (MeRS) transport corridor..
The TradeLens project has been further strengthened by the announcement from ZIM Integrated Shipping that it has signed on as a member of TradeLens..
TradeLens uses blockchain technology to enable trust between multiple trading partners including carriers, freight forwarders, customs, port authorities and more when transacting in a digitized global trade documentation process..
TradeLens ecosystem members get a single shared view of a transaction without compromising details, privacy or confidentiality and can collaborate more efficiently and with greater certainty through real-time access to shipping data and shipping documents..
In a media release, ZIM announced that it has a corporate vision to promote technological innovation in all aspects of its operations and by joining TradeLens, ZIM continues its push toward digitizing its processes to enable efficiencies and cost savings to the company and the customers by enabling greater transparency and more efficient processes..
Eyal Ben Amram, ZIM CIO: “We are very pleased to join TradeLens, as part of our vision to be at the forefront of digital innovation in shipping.
ZIM endorses a proactive approach of promoting and investing in innovative digital solutions, such as the pioneering blockchain-based electronic Bill of Lading initiative, in collaboration with Wave Inc, and the recent investment in Ladingo, a ground-breaking e-commerce solution”.
Mike White, TradeLens leader for Maersk said “ZIM will bring a strong ethos of digital innovation to the TradeLens ecosystem and we’re thrilled to welcome their team.
TradeLens has made great progress in bringing transformation to traditional shipping processes through technology that enables greater transparency and efficiency.
What makes the solution so effective is its ability to deliver these benefits while still allowing carriers like ZIM and others to maintain their competitive advantages. The more carriers and other ecosystem members that join the platform, the closer we come to bringing about a new era in global trade.”