TradeLens, the blockchain platform developed by AP Moller – Maersk and IBM, has partnered with China Unicom Digital Tech for its official commercialisation in China, says an article published on Maersk’s website.
Why China?
China market is huge. The Maersk estimating that one in three export containers is exported from China and one in six imported containers is imported into China. As a result, the partnership connects the world’s second-largest economy to the TradeLens platform. China Unicom Digital Tech will host and operate TradeLens in Chinese Mainland.
“This year marks the inaugural year of the 14th Five-Year Plan. As a major use case in the critical digital transformation period, the upgrade towards digital shipping and logistics industry will facilitate the country to build the dual circulation development pattern,” said Haifeng Chen, President of China Unicom IoT Research Institute and Vice President of China Unicom Digital Tech.
Who is TradeLens?
TradeLens launched in 2018 by Maersk and IBM. TradeLens is an open and neutral industry platform underpinned by blockchain technology.
The ecosystem now includes direct integrations with approximately 300 organisations – including more than 10 ocean carriers and data from more than 600 ports and terminals. To date the system has tracked more than 35 million container shipments, close to 2 billion events and enabled the exchanged of roughly 16 million published documents.
Benefits of collaboration
With trade lens “our strength on cyber security, data security and transaction security. Leveraging with IOT, blockchain and other technologies, we will achieve logistics service standardization, visibility and intelligence, and help build a connected, trustful and highly efficient logistics network”, said by President of China Unicom.
TradeLens brings together data from the entire global supply chain ecosystem including shippers, ocean carriers, terminal operators and intermodals, etc, aiming to replace manual and paper based documents with blockchain enabled digital solutions, in order to facilitate digital value transfer.
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Source: Maersk
