Logistics provider, Agility became the first freight forwarder to cooperate on a joint solution by Maersk and IBM to provide efficient and secure methods for conducting global trade by using blockchain technology to manage container shipments.
Namely, Agility will identify events regarding individual shipments and share and receive information about them through the distributed ledger blockchain technology developed by IBM and Maersk.
Its aim is to reduce costs and increase shipping efficiency by incorporating information about shipments in a secure platform, that can be accessed by shippers, carriers, freight forwarders and others in the supply chain.
Blockchain can connect parties in the supply chain, giving them access to information and real-time visibility based on their level of permission.
Blockchain can also show the status of customs documents, bills of lading and other documentation, as well as improve workflow, reduce processing costs and improve visibility by integrating shipping processes and partners.
Blockchain aims to improve the information available for risk analysis, resulting in increased safety and security and greater efficiency in border inspection clearance.