Maersk And IBM Are Bringing Blockchain To The Global Shipping Industry
This program will help manage and track the paper trail of tens of millions of shipping containers traveling the globe
International Business Machines (IBM) and Maersk, the world’s largest container shipping company, have come together to create a digitized supply chain pilot. This program is based off of the Hyperledger Fabric, which manages and tracks the paper trail of tens of millions of shipping containers traveling the globe. They call it a ‘Blockchain’.
The Blockchain would reduce the cost and complexity of keeping track of this information. In 2014, Maersk discovered that the paperwork for a shipment of refrigerated goods often goes through 30 different people from different organizations, causing errors and fraud. As a solution to this, the Blockchain gives all the organizations involved a clear overview of the shipment items and the shipping status. No party involved can change, modify or delete any of the records in the Blockchain without permission from the other parties involved.
IBM and Maersk intend to have 10 million of the 70 million annual container shipments on the Blockchain by the end of 2017.
Before you start filling up your calendars with conferences to spark your business innovation and personal growth this year, add CXI 2018 conference to your wish list! For its 12th year running, PSFK is hosting an intimate conference where emerging pioneers and established experts will take the stage to discuss all things innovation around the new consumer experience.
Hayley Barna and Mollie Chen, Katia co-founded Birchbox to address their frustrations with having to sift through an endless online supply to find the right personalized beauty products. Aiming to help people find what they want and stumble across items they didn’t know they needed, Birchbox provides sample products to millions of subscribers every month. As co-CEO of Birchbox, Katia is responsible for building relationships with beauty and lifestyle brands and all outgoing promotion. Prior to Birchbox, Katia worked in the financial and real estate sector for Eurohype AG and M&T Bank. She has an MBA from Harvard Business School.
Wearable X CEO Billie Whitehouse spoke to PSFK 2017 about designing wearables for all five senses and maintaining a sense of humor