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Ibm-maersk Blockchain Project Adds Logistics Provider Agility

Ibm-maersk Blockchain Project Adds Logistics Provider Agility

IBM-Maersk Blockchain Project Adds Logistics Provider Agility Agility, a global third-party logistics provider, has joined IBM and Maersk's blockchain collaboration, the companies announced Tuesday. As previously reported by CoinDesk, IBM and Maersk revealed their global trade digitization platform, built on the Hyperledger Fabric 1.0 blockchain, in January. DuPont, Dow Chemical, Tetra Pak, the U.S. Customs and Border Protection and others piloted an early version of the project. The latest participant, Agility will share and receive information about individual shipment events through the blockchain in hopes of reducing the massive cost of administration and documentation - which reportedly accounts for one-fifth of the world's total $1.8 trillion annual shipping costs. "Blockchain technology is going to make shipping cheaper, safer and more reliable. As early adopters, companies like Agility can help Maersk and IBM understand the needs of shippers and develop standards that will make trade more efficient," Essa Al-Saleh, CEO of Agility Global Integrated Logistics, told American Shipper. Al-Saleh said that blockchain technology can streamline shipping by showing the status of documents like customs forms and bills of lading , thus helping to reduce the time it takes for shipments to clear inspections. Migrating shipping information onto the blockchain could also help facilitate more comprehensive risk analysis. Other blockchain-based shipping initiatives are underway, including those relating to trade finance, product provenance, and the consolidation of administrative processes. However, as American Shipper points out, the emergence of a multiplicity of projects may be detrimental in the end, as they risk developing simultaneously, but separately, potentially created Continue reading >>

Ibm, Maersk Plan To Bring Blockchain Into The Shipping Process: What You Need To Know

Ibm, Maersk Plan To Bring Blockchain Into The Shipping Process: What You Need To Know

IBM, Maersk Plan to Bring Blockchain Into the Shipping Process: What You Need to Know Once upon a recent time, blockchain was the stuff of only the wonkiest watercooler conversations. But now, its about to enter the mainstream in a huge way and likely revolutionize entire industries as it does. Blockchain offers a way to share unalterable data between multiple parties. It has implications for the security, transparency, storage and transmission of our digital information. Blockchain might even remake the very idea of currency. IBM and Maersk announced a partnership recently and provided details on a blockchain-based logistics platform that would apply artificial intelligence, connected devices (IoT), and intelligent, proactive analytics that could foundationally improve upon the supply chain as we know it. Maersk, as you likely know, is one of the worlds largest shipping concerns. International Business Machines also needs no introduction. The match is apparently perfect. IBM has been quietly innovating in a variety of back-end technologies for a while, so who better to bring about a sea change in how goods and products make their way around the world? We say sea change for two reasons. First, because Maersk may best be known for its mammoth cargo ships, replete with, in some cases, hundreds of containers full of merchandise either arriving in the United States or being shipped overseas. Sometimes products leave the States for finishing elsewhere. Other times, products are assembled elsewhere in the world and sent completed to our shores. But whatever were shipping and whos most excited to receive it, its clear that we dont always get this complicated web of shippers and vendors and transportation analytics quite right. Weve seen in the news over the last few years wha Continue reading >>

Ibm-maersk Blockchain Platform: Breakthrough For Supply Chain?

Ibm-maersk Blockchain Platform: Breakthrough For Supply Chain?

IBM-Maersk Blockchain Platform: Breakthrough for Supply Chain? The last few months there was not much exiting news from the blockchain front. Most focus was on Bitcoin and other cryptocurrencies and their spectacular rise and fall. But that is changing (for the technology!), so back to reality! There are various signals that a number of corporates are moving their blockchain projects towards production. We recently have seen the announcement of the IBM Maersk project, to create a blockchain based corporate. If accepted in a sufficient way by the various players in the shipping industry supply chain that could mean a real breakthrough for blockchain and other distributed ledger technologies. The big thing that is missing from this industry to digitize and unleash the potential of the technology is really to create a form of utility that brings standards across the entire ecosystem, Maersks Chief Commercial Officer Vincent Clerc Present challenges in the shipping industry This announcement is an answer to the growing demand across the shipping industry for efficiency gains and opportunities coming from streamlining and standardising information flows using digital solutions. The worlds shipping ecosystems with more than $4 trillion of goods shipped every year have grown in complexity. One major challenge with supply chain management in the shipping industry today involves record keeping. A lot of record keeping is still based on inefficient outdated systems. Along with paper legal documents, much of the international shipping industry's information has been transmitted via very old technologies. Presently, many shipping supply chains are still confronted with enormous bulk of paperwork and bureaucracy involving many intermediaries in cross-border trade. Especially the tr Continue reading >>

Ibm And Maersk Start Promised Blockchain Supply Chain Company

Ibm And Maersk Start Promised Blockchain Supply Chain Company

IBM And Maersk Start Promised Blockchain Supply Chain Company IBM and Maersk make good on previous promises, announce the start of Blockchain supply chain platform. IBM and Danish transport and logistics company Maersk announced Jan. 16 that they are teaming up to create an as-yet-unnamed Blockchain -based shipping and supply chain company. The goal of the venture is to commercialize Blockchain for all aspects of the global supply chain system , from shipping to ports, and banks to customs offices. Blockchain technology is uniquely able to provide special control for the logistics industry , since it can replace tedious and insecure paperwork with secure digital records that are also transparent. Maersks chief commercial officer Vincent Clerc, who will serve as chairman of the newly formed board for the joint venture, was quoted in the official announcement saying: The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit. The company had promised to make delivery of the new project by the end of last year. The offering is the fulfillment of a years worth of planning by both companies, each of whom have invested in Blockchain in various other ways as well. The joint venture is hoping to start offering their software solutions by Q3 2018. Continue reading >>

Agility Signs Up To Ibm-maersk Blockchain Venture

Agility Signs Up To Ibm-maersk Blockchain Venture

Agility signs up to IBM-Maersk blockchain venture Agility signs up to IBM-Maersk blockchain venture By James Henderson . Feb 08, 2018, 10:15AM Agility has become the first freight forwarder to collaborate on a Maersk-IBM initiative to provide more efficient and secure methods for conducting global trade by using blockchain technology. The aim of the collaboration is to use the technology to manage and track container shipments. Agility has agreed to identify events associated with individual shipments and to share and receive information about them via the distributed ledger blockchain technology developed by IBM and Maersk. The freight forwarder said its goal is to reduce costs and increase shipping efficiency by integrating information about shipments onto a secure platform accessible to shippers, carriers, freight forwarders and others in the supply chain. Blockchain technology is going to make shipping cheaper, safer and more reliable. As early adopters, companies like Agility can help Maersk and IBM understand the needs of shippers and develop standards that will make trade more efficient, said Essa Al-Saleh, CEO of Agility Global Integrated Logistics. We can help customers understand how to use blockchain to improve shipment visibility, eliminate paperwork, reduce errors, and shorten transit and clearance times. Agility said Blockchain is a secure, immutable and tamper-resistant ledger that can be used to track shipments, documentation and payment transactions. Continue reading >>

Maersk, Ibm Create World's First Blockchain-based, Electronic Shipping Platform

Maersk, Ibm Create World's First Blockchain-based, Electronic Shipping Platform

Maersk, IBM create world's first blockchain-based, electronic shipping platform Maersk and IBM have devised an end-to-end shipping solution that will give all parties involved in global trade a single view of where cargo is and allow authorities to give electronic approval for its movement. Use commas to separate multiple email addresses Tech Talk: Lessons from Mobile World Congress, and whats next for developers Maersk and IBM today announced a joint venture to deploy a blockchain-based electronic shipping system that will digitize supply chains and track international cargo in real time. The new platform could save the global shipping industry billions of dollars a year by replacing the current EDI- and paper-based system, which can leave containers in receiving yards for weeks, according to the companies. [ Related: The top 5 problems with blockchain ] Blockchain will enable a single view via a virtual dashboard of all goods and shipping information for all parties involved, from manufacturers and shippers to port authorities and government agencies. As an immutable, distributed ledger, blockchain technology will also improve security, according to Michael White, former president of Maersk Line in North America and CEO of the new company. "With blockchain, the improvement in security is significant with the double encryption," White said. "And one of the advantages of blockchain is the immutable record and trust people can have in it. If anything changes in a document..., it's immediately apparent to all." Blockchain's native immutability as a distributed ledger will also create an automatic audit trail for regulators, something with which the industry has struggled. Along with paper legal documents, much of the international shipping industry's information has been Continue reading >>

Professor Questions Several Aspects Of Maersk And Ibm's Blockchain Project

Professor Questions Several Aspects Of Maersk And Ibm's Blockchain Project

Professor questions several aspects of Maersk and IBM's blockchain project Despite massive exposure, it is far from certain that Maersk and IBM will win the digitalization race in the shipping sector, says Shipping Professor Roar Os dland. Blockchain is at best at a beta stage, he tells ShippingWatch. It is far from certain that Maersk and IBM will win the race to produce the future data platform for shipping despite massive attention and interest in the two parties' collaboration, says Shipping Professor Roar Os dland when ShippingWatch meets him in Bergen. From the ridge where the Norwegian School of Economics is located, with a view of the fjord by the Norwegian shipping town, he follows the global trends characterizing the sector these years everything from new fuel solutions to the development of digital solutions in the supply chain. Maersk and IBM recently announced their plans to develop a new digital platform for the shipping sector, a platform based on the so-called blockchain technology. Despite huge interest in the new company, there is still a long way to go, says dland. "I still believe that the application of blockchain is, at best, at 'beta stage' and has, for instance, scaling problems," he says. At the moment for most people, it's a good marketing story so it gives good exposure and provides good marketing value just to be involved in that space and that is kind of how it is now" Roar Os dland, Shipping Professor, Norwegian School of Economics "It's still very early stages and the technology is not mature and possibly the technology we see now is not where we will end up," he explains: "There are a lot of different ways to go in terms of distributed storage, applications and data sharing for the industry and I don't think the technical guys have figur Continue reading >>

Maersk And Ibm Embark On Joint Blockchain Venture

Maersk And Ibm Embark On Joint Blockchain Venture

Maersk and IBM Embark on Joint Blockchain Venture A.P. Moller-Maersk and IBM recently announced their interest to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology.The idea behind the partnership will be to join these two companies in order to jointly develop a global trade digitization platform. It will be built on open standards and be designed for use by the entire global shipping ecosystem. The new company will also assist in the need to provide more transparency and simplicity in the movement of goods across borders and trading zones. This new company marks a milestone in our strategic efforts to drive the digitization of global trade. The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit, said Vincent Clerc, Chief Commercial Officer, Maersk and future chairman of the board of the new joint venture. By joining our knowledge of trade with IBMs capabilities in blockchain and enterprise technology, we are confident this new company can make a real difference in shaping the future of global trade. Blockchain technology is ideally suited for large networks of unlikely partners. As a distributed ledger technology, blockchain establishes a shared, immutable record of all the transactions that take place within a network. The technology enables permissioned parties to have access to trusted data in real time. By using the technology to digitize global trade processes, a new form of command and consent can be introduced into the flow of information. This will empower multiple trading partners to collaborate and establishing a single shared view of a transaction without compromi Continue reading >>

Shipping: Ibm, Maersk Are Creating A New Blockchain Company | Fortune

Shipping: Ibm, Maersk Are Creating A New Blockchain Company | Fortune

IBM and Danish shipping giant Maersk are teaming up to form a new company whose aim is to commercialize blockchain technologythe nifty, shared accounting ledgers first made famous by the cryptocurrency Bitcoin. The as-yet unnamed, New York-based venture is set to be owned 51% by Maersk and 49% by IBM (ibm) , the companies said. The concern intends to help shippers, ports, customs offices, banks, and other stakeholders in global supply chains track freight as well as replace related paperwork with tamper-resistant digital records. IBM and Maersk first partnered on a blockchain trial in summer 2016. Michael J. White, the new companys CEO, said this pilot, which traced a container of flowers that sailed from Mombasa, Kenya to Rotterdam in the Netherlands, plus several followups convinced Maersk of the systems potential. Since then, the two companies have partnered with Dupont, Dow Chemical , Swiss food processor Tetra Pak, and various ports and customs offices on tests. Other corporations, such as General Motors (gm) and Procter and Gamble (pg) are exploring ways to use the technology to streamline record-keeping for their supply chains as well. We see an opportunity to increase efficiency and timeliness for cargo movement, White tells Fortune. Previously, White served as the North American president for Maersk Line, Maersks container shipping division. Even small improvements can have a substantial impact on global trade, says Marie Wieck, general manager of IBMs blockchain team. Presently, many shipping supply chains are bogged down by a morass of paperwork shuffled between a glut of middlemen, Wieck says. Documentation, which when lost or delayed causes perishable goods lying in wait to spoil, can end up costing as much as a fifth of the total expense of physical trans Continue reading >>

Maersk, Ibm To Launch Blockchain-based Platform For Global Trade

Maersk, Ibm To Launch Blockchain-based Platform For Global Trade

January 16, 2018 / 12:17 PM / 3 months ago Maersk, IBM to launch blockchain-based platform for global trade COPENHAGEN (Reuters) - The worlds largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. FILE PHOTO: The logo for IBM is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018, depends on whether Maersk and IBM can convince shippers, freight forwarders, ocean carriers, ports and customs authorities to sign up. Blockchain technology powers the digital currency bitcoin and enables data sharing across a network of individual computers. It will help manage and track tens of millions of shipping containers globally by digitizing the supply chain process from end to end, the companies said. The big thing that is missing from this industry to digitize and unleash the potential of the technology is really to create a form of utility that brings standards across the entire ecosystem, Maersks Chief Commercial Officer Vincent Clerc said in an interview. A shipment of refrigerated goods from East Africa to Europe can go through nearly 30 people and organizations and involve more than 200 different communications, according to Maersk. Documentation and bureaucracy can be as much as a fifth of the total cost of moving a container. There is a strong push from the end-customer to see this change. We may m Continue reading >>

Maersk And Ibm Roll Out Blockchain-based Joint Venture With A Global Trade Focus

Maersk And Ibm Roll Out Blockchain-based Joint Venture With A Global Trade Focus

Maersk and IBM roll out blockchain-based joint venture with a global trade focus With a focus on providing more efficient and secure methods for conducting global trade through the usage of blockchain technology, ocean cargo giant A.P. Moller-Maersk and technology powerhouse IBM announced plans this week for a joint venture (JV). By Jeff Berman, Group News Editor January 18, 2018 With a focus on providing more efficient and secure methods for conducting global trade through the usage of blockchain technology, ocean cargo giant A.P. Moller-Maersk and technology powerhouse IBM announced plans this week for a joint venture (JV). IBM and Maersk said that the objective of this JV is to provide a jointly developed global trade digitization platform that is built on open standards and designed for use by the entire global shipping ecosystem, adding that it will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones. And they added that blockchains key components are a great fit for large networks of disparate partners, as blockchain is a distributed ledger technology that establishes a shared, immutable record of all the transactions that take place within a network and then enables permissioned parties access to trusted data in real time. As for its application to digitize global trade processes, they said that a new form of consent can be introduced into information flow, which empowers multiple trading partners to collaborate and establish a single shared view of a transaction without compromising details, privacy or confidentiality. The blockchain relationship between Maersk and IBM dates back to June 2016, when they initially teamed up to build new blockchain- and cloud-based technologies, which have subsequ Continue reading >>

Agility Signs Up To Ibm-maersk Blockchain Venture

Agility Signs Up To Ibm-maersk Blockchain Venture

Agility signs up to IBM-Maersk blockchain venture Agility signs up to IBM-Maersk blockchain venture By James Henderson . Feb 08, 2018, 10:15AM Agility has become the first freight forwarder to collaborate on a Maersk-IBM initiative to provide more efficient and secure methods for conducting global trade by using blockchain technology. The aim of the collaboration is to use the technology to manage and track container shipments. Agility has agreed to identify events associated with individual shipments and to share and receive information about them via the distributed ledger blockchain technology developed by IBM and Maersk. The freight forwarder said its goal is to reduce costs and increase shipping efficiency by integrating information about shipments onto a secure platform accessible to shippers, carriers, freight forwarders and others in the supply chain. Blockchain technology is going to make shipping cheaper, safer and more reliable. As early adopters, companies like Agility can help Maersk and IBM understand the needs of shippers and develop standards that will make trade more efficient, said Essa Al-Saleh, CEO of Agility Global Integrated Logistics. We can help customers understand how to use blockchain to improve shipment visibility, eliminate paperwork, reduce errors, and shorten transit and clearance times. Agility said Blockchain is a secure, immutable and tamper-resistant ledger that can be used to track shipments, documentation and payment transactions. Continue reading >>

New Joint Venture Between Ibm And Maersk Will Apply Blockchain In Global Trade Blogtransportwatch.eu

New Joint Venture Between Ibm And Maersk Will Apply Blockchain In Global Trade Blogtransportwatch.eu

New joint venture between IBM and Maersk will apply blockchain in global trade De Berti Jacchia Franchini Forlani Studio Legale On 23 March 2018 the European Commission approved the proposed joint venture between Maersk and IBM with the aim of applying the blockchain technology to global trade. The notification of the proposed joint venture was received by the Commission on 28 February 2018, pursuant to Article 4 of the Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (Merger Regulation). IBM is a multinational corporation active in the development, production, and marketing of a wide variety of information technology solutions, comprising software, systems (such as servers and storage systems), and services (such as business consulting and IT infrastructure services). It is also leader in blockchain open source solutions applied to entrepreneurship. Maersk is an international group specialized in maritime transport and logistics. It is a global leader in container shipping and terminal services. The collaboration between the two companies started in 2016, following a common trend already tested by organization such as DuPont, DowChemical, Tetra Pack and others. The new company will offer to the market an open standards digital platform specifically developed for shipping, in order to to ensure more transparent and simple operations. The maximum cost of the required trade documentation to process and administer different goods is estimated to reach one-fifth of the actual physical transportation costs. According to the World Economic Forum, a reduction of barriers in the global supply chain could increase international commerce by 15%. The application of blockchain technology to global trade will allow to overcome that barriers, Continue reading >>

Ibm And Shipping Giant Maersk Launch Blockchain Company For Global Logisics

Ibm And Shipping Giant Maersk Launch Blockchain Company For Global Logisics

IBM and shipping giant Maersk launch blockchain company for global logisics IBM and Danish transport conglomerate Maersk announced today they are launching a joint venture to redefine the global shipping industry for the blockchain age. The new company, which hasnt yet been named, will focus on simplifying the complex process of moving goods across different trade zones. The company initially plans to market two capabilities built on IBM Blockchain : a shipping information pipeline that provides a real-time, transparent view of merchandise movement, and smart contracts to replace what is today a slow and paperwork-heavy process. More than $4 trillion in goods are shipped each year, and more than 80 percent of the goods consumers use daily are carried by the ocean shipping industry. The maximum cost of the required trade documentation to process and administer many of these goods is estimated to reach one-fifth of the actual physical transportation costs. According to The World Economic Forum, by reducing barriers within the international supply chain, global trade could increase by nearly 15 percent, boosting economies and creating jobs, Maersk said in a press release. Assuming the new company is able to get regulatory clearance for its offerings, they should be available within six months, according to the release. The company will be headquartered in New York City. Maersk and IBM have been working on the platform since June 2016. Companies that have piloted the solution include DuPont, Dow Chemical, Tetra Pak, Port Houston, Rotterdam Port Community System Portbase, the Customs Administration of the Netherlands, and U.S. Customs and Border Protection. The pilots confirmed our expectations that, across the industry, there is considerable demand for efficiency gains and Continue reading >>

Ibm Forges Global Joint Venture With Maersk Applying Blockchain To 'digitize' Global Trade

Ibm Forges Global Joint Venture With Maersk Applying Blockchain To 'digitize' Global Trade

Opinions expressed by Forbes Contributors are their own. IBM, aka Big Blue, and the Danish business conglomerate A.P. Moller-Maersk Group, also known as Maersk , have announced plans to form a joint venture to provide more efficient and secure methods for global trade using blockchain technology. Maerskhas activities spanning transportation, logistics and energy with over 80,000 employees globally The venture, which as a new company will be headquartered in the New York metropolitan area, has named Michael J. White, former president of Maersk Line in North America, as its CEO. And, once regulatory approvals are granted, its aim 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. As such, it will seek to address the need to provide greater more transparency and simplicity in the movement of goods across borders and trading zones. After the joint venture begins operations, solutions are expected to become available in a limited capacity within a few months according to an IBM spokesperson. The move comes amid the cost and size of the worlds trading ecosystems continuing to grow in complexity with in excess of $4 trillion of goods shipped each year. Today more than 80% of the goods that consumers use daily are carried and transported across the oceans by the shipping industry. Given that the maximum cost of the required trade documentation to process and administer many of these goods has been estimated to reach around a fifth of the actual physical transportation costs, addressing cost reduction in this area could yield significant cost savings. Indeed, according to the World Economic Forum (WEF) by reducing barriers within the international supply chain, global trad Continue reading >>

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