Maersk, IBM to form JV applying blockchain to improve global trade, digitize supply chains
The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem.
Maersk, Denmark, and IBM, North Castle, N.Y., announced plans to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology.
Traditional cross-border shipping processes usually involve manually transporting and verifying paper documents for each shipment. IBM and Maersk’s joint venture will use blockchain technology to make global trade more efficient, transparent and secure.