Maersk Ibm Say 94 Organizations Have Joined Blockchain Trade Platform

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Maersk Ibm Say 94 Organizations Have Joined Blockchain Trade Platform

COPENHAGEN – Shipping group Maersk (MAERSKb.CO) said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM (IBM.N) aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.

The 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.

Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platform, Maersk aims to expand its transport and logistics business in areas such as freight forwarding and trade finance.

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