The shipping giant, Maersk, has stated in a press release that 94 corporations have officially joined the IBM blockchain platform as a means of increasing productivity and providing logistical solutions. The embracing of blockchain technology will bring about a reduction in paper and printed documents, as well as streamline the process of communication. The fact that so many companies are choosing to become open to blockchain technology shows just how far the industry has come towards its goal of mainstream appeal.
Maersk and the IBM Blockchain
Maersk has stated that it will be making the most of the IBM blockchain technology by branching out into the world of trading. The shipping company will be using IBM’s infrastructure to begin trading goods via the act of freight forwarding to other huge corporations as well as to smaller businesses.
This is not the first time we have heard of Maesrk joining with the IBM Blockchain infrastructure. In January 2016, Maesrk announced a joint-venture with the purpose of creating a “global shipping ecosystem“. The main difference is that now we have more details as to what is planned, plus we now know that Maersk is in the process of convincing others to join them.
Nearly 100 companies move towards a blockchain powered future
As stated in the press release, 94 companies have also chosen to work with the IBM blockchain. A significant proportion of these organizations focus on logistics, customs, and port operations. These are all professions which revolve around the movement of goods. The fact that blockchain technology is being used for these reasons is huge as it shows how versatile it is. It also reveals how powerful blockchain technology is in comparison to a static spreadsheet or an easily compromised database.
These won’t be the first companies to use blockchain technology for logistics— in May it was revealed that the De Bears corporation, the largest diamond company, would be using blockchain to keep track of where its diamonds come from. This was in an attempt to curb the use of blood diamonds and other unethical practices. Like with the IBM blockchain solutions, this expresses how useful and practical this type of technology is in the contemporary age.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.