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Maersk taps IBM's blockchain tech to digitalize shipping industry

Tuesday 7 March 2017 | 11:08 AM CET

IBM has teamed up with Maersk to launch blockchain technology platform that will digitize the shipping industry and all the documentation that goes with it.

Both companies will use blockchain technology to conduct, manage and track transactions in the shipping supply chain. Furthermore, they have created blockchain tools for cross-border transactions among shippers, freight forwarders, ocean carriers, ports and customs authorities.

The blockchain effort was built on the Linux Foundation's open source Hyperledger platform, aiming to replace paper-heavy manual processes with blockchain to improve transparency and secure data sharing.

Maersk and IBM will work with the shipping supply chain to build a blockchain digital platform that will go into production later in 2017.

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