Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Logistics provider Agility teams up with Maersk, IBM on blockchain solution

Leading logistics provider Agility has announced its collaboration with IBM and Maersk on their joint blockchain initiative.

Headquartered in Kuwait, Agility has become the first freight forwarder to collaborate on the Maersk-IBM solution that aims to provide more efficient and secure methods for conducting global trade by using blockchain technology to manage and track container shipments.

IBM and Maersk began a collaboration in June 2016 to build new blockchain- and cloud-based technologies. Last month, they announced a joint venture to tap blockchain potential for digitizing global trade. In March 2017, they partnered to utilize the blockchain technology to manage transactions among network of shippers, freight forwarders, ocean carriers, ports and customs authorities.

Under the collaboration, Agility will identify events associated with individual shipments and share and receive related information via the distributed ledger technology (DLT) developed by IBM and Maersk. It aims to reduce costs and enhance shipping efficiency by integrating information about shipments onto a secure platform accessible to shippers, carriers, freight forwarders and others in the supply chain.

“Blockchain technology is going to make shipping cheaper, safer and more reliable. As early adopters, companies like Agility can help Maersk and IBM understand the needs of shippers and develop standards that will make trade more efficient,” said Essa Al-Saleh, CEO of Agility Global Integrated Logistics. “We can help customers understand how to use blockchain to improve shipment visibility, eliminate paperwork, reduce errors, and shorten transit and clearance times.”

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 22 11:30 UTC Released

INFX Reserves, USD

Actual

410.07 Bln USD

Forecast

Previous

413.11 Bln USD

June 22 07:30 UTC Released

THCurrency Swaps

Actual

32.7 Bln US

Forecast

Previous

33.2 Bln US

January 31 00:00 UTC 205182205182m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 205182205182m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 217002217002m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 205182205182m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 217002217002m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 205182205182m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 205182205182m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 205182205182m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.