• Latest
IBM-Maersk Shipping Blockchain Gains Steam With 15 Carriers Now on Board

IBM-Maersk Shipping Blockchain Gains Steam With 15 Carriers Now on Board

July 2, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

IBM-Maersk Shipping Blockchain Gains Steam With 15 Carriers Now on Board

coinnewsdaily by coinnewsdaily
July 2, 2019
in Business
0
IBM-Maersk Shipping Blockchain Gains Steam With 15 Carriers Now on Board
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

IBM has recruited two more major shipping carriers to join the blockchain platform it co-owns with container giant Maersk. 

Announced Tuesday, Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) – the world’s fifth and sixth largest carriers respectively – are the latest ocean carriers to join the TradeLens blockchain.

They follow top-five carriers CMA CGM and MSC, which joined TradeLens last month. 

Aside from Maersk and its subsidiary Hamburg Süd, TradeLens was launched in early 2018 with just one other shipping carrier, Asia’s Pacific International Lines (PIL), 17th in the world based on cargo volumes. 

Over the course of last year, IBM’s TradeLens struggled to sign up Maersk’s competitors; as CoinDesk reported, rival carriers were put off by IBM and Maersk essentially owning the platform. 

One way or another, those concerns seem to have dissipated as far as competing shipping lines are concerned. TradeLens now boasts 15 ocean carrier lines, including  ZIM, KMTC, Safmarine, Sealand, Seaboard Marine, Namsung, Boluda and APL.

Todd Scott, vice president of supply chain solution sales at IBM Blockchain, said a lot of work had gone into getting the governance right, ensuring data privacy, publishing APIs, and aligning with common standards, known to the shipping and supply chain industry.

Asked if there had been any other fundamental changes to the ownership of the platform, Scott told CoinDesk: 

“The ownership has not changed. TradeLens is still a jointly-owned product, asset, IP etc between IBM and Maersk. That has not changed at all.”

In a statement, Martin Gnass, managing director information technology at Hapag-Lloyd, said: “TradeLens has made significant progress in launching a much-needed transformation in the industry, including its partnership model.”

A spokesman for Hapag-Lloyd told CoinDesk via email:

“Concerning TradeLens, we (like other major carriers) were not happy with the initial governance model proposed by IBM and Maersk. In the meantime, they have changed their approach and made it acceptable for us (and other major carriers like CMA CGM, MSC) to participate in the platform.”

The spokesman said he could not comment on the details of the new approach as they are “commercially confidential”.

Pilot fishing

Scott offered another theory behind Tradelens’s recent growth spurt.

He said players in the shipping and logistics world may have kicked the tires of other proposed solutions and seen that IBM’s Blockchain Platform (built on the Hyperledger Fabric blockchain foundation) offered the best results.

“There were some other projects that I think that some of the carriers had engaged in that may not have produced the same kind of results [as TradeLens]. So I think that may have played a role as well,” said Scott.

An obvious example of this could be the shipping blockchain pilot run by Accenture, which included Singapore-based shipping carrier APL (American President Lines, 12th largest by cargo volume) and freight forwarding giant Kuehne + Nagel.

APL and its parent company CMA CGM have both now chosen to join TradeLens. (Neither CMA CMG, APL nor Accenture replied to requests for comment by press time.)

Now that IBM’s major supply chain distributed ledgers – Walmart-backed Food Trust and TradeLens – are both live and processing a ton of data, when will the effort start pay off with revenues for Big Blue?

“The expectation is that we will start to turn the corner on this,” Scott said. “Without getting into specifics and timing, we believe that as the ecosystem sees value commercialization will come – certainly in the not too distant future.” 

Shipping port image via Shutterstock

Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

Bitcoin Mining Profits Skyrocketed 24% Last Month, Argo Blockchain Reports

Next Post

Facebook’s Libra Will Benefit Bitcoin But ‘Destroy’ Banks, Says Industry

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
Facebook’s Libra Will Benefit Bitcoin But ‘Destroy’ Banks, Says Industry

Facebook’s Libra Will Benefit Bitcoin But ‘Destroy’ Banks, Says Industry

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$20,100.00-4.31%
  • ethereumEthereum(ETH)$1,112.29-9.22%
  • tetherTether(USDT)$1.00-0.16%
  • binancecoinBNB(BNB)$219.05-8.54%
  • cardanoCardano(ADA)$0.467305-4.74%
  • rippleXRP(XRP)$0.327207-6.55%
  • SolanaSolana(SOL)$34.42-12.32%
  • dogecoinDogecoin(DOGE)$0.066795-6.81%
  • polkadotPolkadot(DOT)$7.14-9.94%
  • daiDai(DAI)$1.000.08%
  • tronTRON(TRX)$0.065057-4.14%
  • Shiba InuShiba Inu(SHIB)$0.000010-10.87%
  • leo-tokenLEO Token(LEO)$5.983.28%
  • matic-networkPolygon(MATIC)$0.54-3.25%
  • litecoinLitecoin(LTC)$52.28-7.49%
  • FTXFTX(FTT)$25.07-8.46%
  • OKBOKB(OKB)$11.77-5.22%
  • CronosCronos(CRO)$0.116860-7.72%
  • chainlinkChainlink(LINK)$6.32-9.87%
  • stellarStellar(XLM)$0.110276-8.30%
  • moneroMonero(XMR)$121.48-0.72%
  • cosmosCosmos Hub(ATOM)$7.16-9.01%
  • algorandAlgorand(ALGO)$0.303377-9.01%
  • ethereum-classicEthereum Classic(ETC)$15.14-8.71%
  • bitcoin-cashBitcoin Cash(BCH)$105.89-5.59%
  • vechainVeChain(VET)$0.022839-8.76%
  • tezosTezos(XTZ)$1.48-10.23%
  • Internet ComputerInternet Computer(ICP)$5.38-8.84%
  • theta-tokenTheta Network(THETA)$1.23-9.25%
  • filecoinFilecoin(FIL)$5.48-6.74%
  • ElrondElrond(EGLD)$50.67-10.39%
  • bitcoin-cash-svBitcoin SV(BSV)$56.39-6.07%
  • eosEOS(EOS)$0.93-6.69%
  • paxos-standardPax Dollar(USDP)$1.00-0.08%
  • makerMaker(MKR)$937.28-7.66%
  • AaveAave(AAVE)$60.76-11.48%
  • huobi-tokenHuobi(HT)$5.02-5.12%
  • iotaIOTA(MIOTA)$0.270528-7.78%
  • zcashZcash(ZEC)$59.29-5.30%
  • neoNEO(NEO)$8.63-9.87%
  • havvenSynthetix Network(SNX)$2.561.80%
  • basic-attention-tokenBasic Attention(BAT)$0.380626-3.92%
  • zilliqaZilliqa(ZIL)$0.039256-11.20%
  • wavesWaves(WAVES)$5.28-9.10%
  • dashDash(DASH)$44.86-8.68%
  • PancakeSwapPancakeSwap(CAKE)$3.05-9.45%
  • KusamaKusama(KSM)$48.63-9.79%
  • nemNEM(XEM)$0.039235-7.92%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • ethlendAave [OLD](LEND)$4.103.48%
  • CompoundCompound(COMP)$47.21-6.79%
  • qtumQtum(QTUM)$2.84-6.59%
  • bitcoin-goldBitcoin Gold(BTG)$16.17-5.97%
  • omisegoOMG Network(OMG)$1.83-9.29%
  • golemGolem(GLM)$0.232871-8.73%
  • SushiSushi(SUSHI)$1.07-8.71%
  • ontologyOntology(ONT)$0.230386-8.66%
  • yearn-financeyearn.finance(YFI)$5,713.14-6.35%
  • umaUMA(UMA)$2.55-7.49%
  • digibyteDigiByte(DGB)$0.009179-9.43%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....