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ZIM Integrated Shipping Services has signed on as a member of TradeLens, a blockchain-enabled digital shipping solution jointly developed by Maersk and IBM.
The carrier is looking to push towards digitising its processes to enable efficiencies and cost savings to the company and the customers by enabling greater transparency and more efficient processes.
TradeLens uses blockchain technology to enable trust between multiple trading partners — from carriers to freight forwarders, customs officials, port authorities and more — when transacting in a digitised global trade documentation process.
The platform’s members get a single shared view of a transaction without compromising details, privacy or confidentiality and can collaborate more efficiently and with greater certainty through real-time access to shipping data and shipping documents.
Eyal Ben Amram, chief information officer at ZIM, stated: “ZIM endorses a proactive approach of promoting and investing in innovative digital solutions, such as the pioneering blockchain-based electronic Bill of Lading initiative, in collaboration with Wave Inc, and the recent investment in Ladingo, a ground-breaking e-commerce solution.”
Mike White, TradeLens leader for Maersk, said: “What makes the solution so effective is its ability to deliver [greater transparency and efficiency] while still allowing carriers like ZIM and others to maintain their competitive advantages.
“The more carriers and other ecosystem members that join the platform, the closer we come to bringing about a new era in global trade.”
More than 5m shipments have been recorded on TradeLens to date by more than 60 network members and 100 total ecosystem members.
ZIM is expected to begin contributing data to the platform before the end of the third quarter of 2019.
Daniel Melka, country general manager for IBM Israel, said: “Blockchain networks like TradeLens work best when comprised of a diverse network of participants who work together to affect change for an entire industry, which is what we are seeing happen with TradeLens.”