menu

Maersk And IBM Are Bringing Blockchain To The Global Shipping Industry

Maersk And IBM Are Bringing Blockchain To The Global Shipping Industry
Consumer Goods

This program will help manage and track the paper trail of tens of millions of shipping containers traveling the globe

Zack Palm
  • 16 march 2017

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.

IBM | Maersk

+blockchain
+consumer goods
+digitized supply chain
+hyperledger fabric
+IBM Maersk
+retail
+shipping
+shipping container
+technology

More in retail

retail

How Target Is Aiming For Same-Day Delivery

Target's recent deal with Shipt means it wants to compete with other same-day delivery companies

15 December 2017
retail

How Amazon Is Building Experiences Atop Digital Infrastructure

PSFK's Future of Retail Report unpacks how the online retailer is building physical experiences on top of its existing digital platform to adapt to the expectations of a new generation of consumer

15 December 2017

The Latest

Event

PSFK is proud to host a special half-day conference with expert speakers on new opportunity in brick & data retail

January 17, 2018 | New York City
Video

Prison inmate turned fitness CEO Coss Marte discussed how he went from selling drugs on a street corner to running a company at Saks 5th Avenue, alongside racks of designer clothes and shoes.

September 27, 2017
No search results found.