Global trade digitisation solution with blockchain
The global trade digitisation solution with blockchain will enable the real-time exchange of original supply chain events and documents through a secure digital infrastructure, or data pipeline, that connects supply chain participants from shippers and logistics providers to customs authorities, allowing greater visibility and flow of important information, with much greater security.
- For shippers, the solution can help reduce trade documentation and processing costs and help eliminate delays associated with errors in the physical movement of paperwork. It will also provide real time insight into cargo as it advances through the supply chain.
- For customs authorities, the solution will give real time visibility, significantly improving the information available for risk analysis and targeting, which will lead to increased safety and security as well as greater efficiency in border inspection clearance procedures.
With the global trade digitisation solution Maersk is developing with partners like IBM and its blockchain technology, real-time exchange of original supply chain events and documents among supply chain participants will be possible. From shippers and logistics providers to customs authorities, each participant gets greater visibility and access to the flow of important information with much greater reliability and security. No more physical, time-consuming and error prone processes, just uploads, downloads, clicks and swipes.
“The projects we are doing with IBM aim to explore disruptive technology such as blockchain to solve real customer problems and create new innovative business models for the entire industry,” says Gokcen. “We expect the solutions we are working on will not only reduce the cost of goods for consumers, but also make global trade more accessible to a much larger number of players from both emerging and developed countries.”