After launching a proof of concept earlier this year, IBM and Maersk have unveiled TradeLens, the production version of an electronic ledger for tracking global shipments; the companies say they have 94 participants piloting the system, including more than 20 port and terminal operators.
The jointly developed electronic shipping ledger records details of cargo shipments as they leave their origin, arrive in ports, are shipped overseas and eventually received.
During the transportation process, all of the involved parties in the supply chain can view tracking information such as shipment arrival times and documents such as customs releases, commercial invoices and bills of lading in near real time via the permissioned blockchain ledger.
More than 160 million such shipping events have been captured on the platform, according to IBM and Maersk. “This data is growing at a rate of close to one million events per day,” the companies