Yesterday the Port Authority of Valencia, Valenciaport,
announced plans to join the blockchain shipping platform, TradeLens.
TradeLens currently includes more than 20 port operators and terminals around the world including PSA Singapore, ICTSI, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase and terminal operators Holt Logistics in the Port of Philadelphia.
The TradeLens project has been jointly developed by IBM and Maersk to apply blockchain technology to the global supply chain. And according to data collected by the system, it allows a reduction in transit time of a shipment by 40% and aims to digitalize the container shipping process.
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