By: John Churchill
When it launches in 2018-pending regulatory approval-the new joint venture company will connect all the different global supply chain participants in one secure, digital platform where they can share and use information but also leverage the data to develop products for their customers and the industry.
"This new company marks a milestone in our strategic efforts to drive the digitisation of global trade. The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit," said Vincent Clerc, Chief Commercial Officer at A.P. Moller - Maersk and future Chairman of the Board of the new joint venture.
"By joining our deep knowledge of trade with IBM's capabilities in blockchain and enterprise technology, we are confident this new company can make a real difference in shaping the future of global trade."
An open, secure digital platform
Parts of the platform will use IBM's blockchain technology, based on Hyperledger Fabric from the Linux Foundation, which among other things ensures that platform participants' information is secure and any transactions involve only relevant parties.