The Port of Algeciras in Spain has announced that it is to trial Maersk and IBM’s blockchain shipping platform Tradelens.
Algeciras, one of Europe’s major ports, is now leading the field in Europe with regard to the implementation of blockchain.
The Port of Algeciras is the seventh busiest container port in Europe and the 28th biggest in the world.
TradeLens uses IBM Blockchain as the basis for digital supply chains, granting multiple trading partners to cooperate by installing an individual shared view of a transaction without yielding details, privacy or confidentiality.
Shippers, shipping lines, freight forwarders, port, and terminal operators, inland transportation and customs authorities can interact more efficiently through real-time access to shipping data and shipping documents, including IoT and sensor data ranging from temperature control to container weight.
Using blockchain smart contracts, TradeLens enables digital collaboration across the multiple parties involved in international trade.
Read more: CEVA Joins IBM & Maersk Blockchain