REUTERS: Maersk, IBM to Launch Blockchain-Based Platform For Global Trade

01/16/2018

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January 16, 2018 | By: JACOB GRONHOLT-PEDERSEN –  

COPENHAGEN (Reuters) – The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars.

The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy.

Success of the platform, which will be made available to the ocean shipping industry around mid-2018, depends on whether Maersk and IBM can convince shippers, freight forwarders, ocean carriers, ports and customs authorities to sign up.

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