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INN4SCIENCE BLOG

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News

Spanish Port Authority Cooperates with IBM on Shipping Platform

blockchain news

The Port Authority of the Bay of Algeciras will join the shipping platform of IBM called Tradelens. Which is a blockchain-based solution created by IBM along with major international shipping company Maersk.

Algeciras port is included to the top 10 busiest European ports. It serves more than 70 million tons of cargo traffic per year

The digital platform is developed for more secure and efficient information and records exchange between supply chain participants. Tradelens will be extremely useful for shipping companies, freight forwarders, shippers and logistics operators.

In 2018 the solution involved over 100 organizations and 20 port operators. The solution has already served 230 million shipments and registered more than 20 million containers.

Leading port operators have been increasingly implementing blockchain technology to streamline their operations. After leading Abu Dhabi Ports became pioneers to implement its own blockchain solutions in the country, a number of ports worldwide have made attempts to deploy blockchain in shipping including operators in Europe, Asia and USA.

As we can see, blockchain technology keeps gaining in prominence. It’s no wonder that the number major logistics companies implement all the values and benefits of the blockchain technology. Decentralized nature, transparency along with data security and integrity makes it a perfect solution for the shipping industry.

Want to find out about benefits blockchain can bring to your business? Whether you consider the opportunities of blockchain for establishing a new breakthrough business or level-upping an existing one it’s a great tool to create an amazing project! Contact us to get a free consultation!

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