A.P. Moller-Maersk and IBM have announced their intent to establish a joint venture (JV) to provide more efficient and secure methods for conducting global trade using blockchain technology.
The pair of companies had already begun working on a blockchain project in June 2016 while other transport and logistics providers including PSA, the Port of Rotterdam and Hyundai Merchant Marine (HMM) have also trialled the benefits of the technology.
The JV will enable Maersk and IBM to commercialise and scale their solutions to a range of corporations.
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