IBM created a blockchain for the world's largest operator of container transportations

In March, 2017 it became known of creation of blockchain technology by IBM corporation for the world's largest operator of container transportations  — the Danish Maersk.

At the beginning of March, 2017 Maersk completed the first test stage of a management system for cargo transportation on the basis of blockchain technology which, in turn, is based on the Hyperledger Fabric platform.

According to the Reuters news agency, a new solution is urged to cut down expenses (it is about billions of dollars in industry scales) and time for document creation between the sender and the consignee by the translation of all documentation in a form of so-called "smart" contracts. Having digitized all logistic processes, partners expect to achieve transparency and security in data exchange between participants of commercial transactions.

Maersk cargoship

Besides, the new technology minimizes errors and fraud in the course of transportations and cargo delivery that is very important, considering a long chain of deliveries. In 2014 Maersk reported that simple delivery of refrigerator loads from East Africa to Europe can take place about 30 people and the organizations between which more than 200 different interactions are possible.

Cooperating with Maersk many years, we understood the problems facing the market of transport logistics services long ago and quickly saw an opportunity for huge economy when using a blockchain in marine navigable ecosystem — the senior vice president for the industry IBM platforms Bridget van Kralingen noted.

IBM and Maersk intend to work with network of consignors, forwarding agents, ocean carriers, ports and customs authorities to construct a new product for digitalization of world trade, said in a joint statement of the companies.^[1]

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