Tanger Med joins the Maersk-IBM Blockchain Project for maritime transport

Tanger Med Port Authority has integrated the Blockchain ecosystem developed jointly by IBM and the shipping giant Maersk (TradeLens Platform). 

BlockChain's international trade platform TradeLens based on the blockchain technology aims to bring the freight transport sector into the digital age by using a secure interface exclusively for the transportation of goods. It will enable shipping lines, port authorities, terminal operators, customs, carriers and other stakeholders to establish exchange of documents and events relating to the supply chain between heterogeneous distributed systems. 

Launched in August 2018, the TradeLens platform, according to Maersk, would reduce transit times through the centralisation of up-to-date information, which also represents a source of cost optimisation. Today, Tradelens brings together more than 40 contributors (including Apm Terminals on several terminals (Tanger Med, Rotterdam, Algeciras...), PSA (Singapore), Port of Houston, Port of Bilbao, Port of Valencia, Customs (Singapore), Port of Montreal, Maritime Cargo Processing plc (Port Community Systems of United Kingdom). 

TradeLens has reportedly processed 154 million events with a growth rate of one million new records per day.