Halifax Port Authority to pilot blochain-focused global trade digitization solution
The goal is to develop a highly secure digital ledger system that promotes the sharing of information across the global shipping industry.
The Halifax Port Authority (HPA), Canada, joined the digital global shipping platform developed by Maersk, Denmark, and IBM, North Castle, N.Y., where HPA will participate in a blockchain-focused global trade digitization solution known as TradeLens.
The goal is to develop a highly secure digital ledger system that promotes the sharing of information across the global shipping industry to reduce costs, improve productivity, increase the speed of the delivery of goods and provide transparency. The Maersk-IBM blockchain program will enable the needed safety and security for the digital platform.
The new collaboration will integrate global shipping and trade partners, including terminals, shippers, freight forwarders and ports to provide a single shared and trusted view of supply chain transactions. The platform will reduce paperwork with a digital process for documents, offering the potential for significant economic efficiency and improved security. This technology is also expected to reduce the need for multiple records and documents produced at each point in the supply chain.
“Just think of what can be accomplished when we combine our local knowledge with global expertise provided through the Maersk-IBM Collaboration Agreement,” says Karen Oldfield, president and CEO, HPA “The timing couldn’t be better. Digitization is the efficiency vehicle for the global supply chain, and considerable work is being done in Halifax right now through the recently established Centre for Ocean Ventures and Entrepreneurship (COVE) and Volta Labs innovation hub. Through our involvement in TradeLens, we are taking the next steps to ensure the Port of Halifax is on the leading edge.”
“We’re excited to have Halifax Port Authority joining the TradeLens platform,” says Mike White, TradeLens leader for Maersk. “Halifax Port Authority is an important player in the development of this fully open and neutral platform – it’s great to have them as an early adopter in this growing ecosystem.”