IBM and Danish shipping giant Maersk are using blockchain technology to digitise transactions in the global shipping industry. It is a huge market, with about 90% of the world’s trade carried by sea.
The blockchain product that IBM and Maersk are developing could help to track and manage the paper trail of millions of shipping containers end to end. It will increase transparency and improve secure data sharing between trading partners.
The companies’ blockchain effort is based on Hyperledger Fabric, part of the Linux Foundation’s open source Hyperledger Project, and is scheduled to be ready for production in late 2017.
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