As reported in LM, Maersk is now joining IBM in a widely celebrated effort to introduce blocktrain technology linking shippers, freight forwarders, other ocean carriers, ports and customs authorities.
A panel of experts participated in a “brown bag” lunch discussion this past week, hosted by the Federal Maritime Commission, where the topic of blockchain technology and its applicability to supply chain management and increasing efficiency in international trade was explored.
Blockchain is a relatively new technological protocol for managing and tracking information, most commonly data related to financial transactions. There is an increasing interest in the international ocean shipping industry in applying blockchain technology to improve transparency, accountability, and accuracy of the processes involved in transporting a container over the seas.
Additionally, the U.S. and other governments have begun to consider the applicability of the technology for meeting their data management needs and mission requirements.