IBM Blockchain Platform Helps Develop Port In Spain
The Authorities of Algeciras Bay Port (APBA) and the IBM Corporation entered into an agreement, providing for the use of the Tradelens blockchain solution for maritime cargo, Cointelegraph reports, referring to Europa News.
Tradelens was created by the specialists of IBM and Maersk, one of the world's leading shipping corporations. According to Europa Press, this blockchain solution covered over one hundred enterprises and twenty ports by late 2018. Nearly 230 million cargos were registered on the platform, and the data of over 20 million containers were processed.
Experts consider Algeciras to be one of the ten busiest European ports today. Every year, 70 million tons of every possible cargo pass it.
The APBA management believes that distributed ledger will provide an opportunity to effectively share documents and data with counterparties along the entire supply chain. The participants of Tradelens will include shipping companies, shippers, forwarding agents, logistics operators.
Ports all over the world resort to the technology during the transportation and delivery of marine cargo more often. Last September, Associated British Ports began to participate in the development of a distributed ledger for port logistics. Later, the Rotterdam port signed a contract with the IT department of Samsung and ABN AMRO Bank for the same purpose.
As previously reported, the South Korean government would test the technology in the field of cargo delivery by sea routes.