On 10 November 2020, International Container Terminal Services (ICTSI) announced it is joining TradeLens, the blockchain platform developed by IBM and Maersk. The global terminal operator will connect all 31 of its terminals, spanning six continents, to the platform, allowing the terminals to track and trace cargo even before it arrives. Philippines headquartered ICTSI hopes this will allow clients to have faster access to more detailed information.
Powered by IBM Blockchain and IBM Cloud, TradeLens connects supply chain actors, from cargo owners to customs authorities, for near-real-time, end-to-end tracking of cargo. The platform’s system enables only permissioned supply chain actors to view, use, and edit the shipment data. Blockchain technology enhances the privacy, security, and traceability of the information.
ICTSI Vice President and Chief Information Officer Brian Hibbert confirmed they are currently testing the system and transferring the necessary data to the platform. Hibbert said, “After complete integration of the system, we will be able to optimize work with regulatory authorities, improve our terminals’ visibility to what is coming to them as well as receive updates from the sea carriers online.”
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