Developed by Maersk and IBM, TradeLens uses blockchain to promote exchange of shipping and trade data.
ZIM Integrated Shipping Services said Wednesday that it has signed on as a member of TradeLens, a digital shipping platform jointly developed by A.P. Møller – Maersk and IBM. ZIM is expected to begin contributing data to the platform before the end of the third quarter this year.
TradeLens uses blockchain technology “to enable trust between multiple trading partners — from carriers to freight forwarders, customs officials, port authorities and more — when transacting in a digitized global trade documentation process,” said ZIM.
“By joining TradeLens, ZIM can continue its push toward digitizing its processes to enable efficiencies and cost savings to the company and the customers by enabling greater transparency and more efficient processes,” the Israel-based carrier said.
It said more than 5 million shipments have been recorded on TradeLens.
