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Agility leaps aboard Maersk Blockchain scheme
[ February 6, 2018 // Chris ]Agility says it is the first forwarder to collaborate on a Maersk-IBM solution to provide more efficient and secure global trade by using the blockchain to manage and track container shipments. Agility has agreed to identify events associated with individual shipments and to share and receive information about them via the distributed ledger technology developed by IBM and Maersk.
Agility’s chief executive, Essa Al-Saleh, explained: “Blockchain technology is going to make shipping cheaper, safer and more reliable. As early adopters, companies like Agility can help Maersk and IBM understand the needs of shippers and develop standards that will make trade more efficient
“We can help customers understand how to use Blockchain to improve shipment visibility, eliminate paperwork, reduce errors, and shorten transit and clearance times.”
Documentation and administration are estimated to account for a fifth of the $1.8 trillion spent annually on moving goods across borders. In addition to showing the location of containers in transit, Blockchain can show the status of customs documents, bills of lading and other documentation.