TradeLens, the blockchain-enabled digital shipping platform developed by IBM and Maersk has onboarded several major Turkish terminals.
TradeLens Inks Deal with Turkey’s YILPORT Holding
IBM and Danish logistics firm Maersk’s TradeLens supply chain and logistics platform has been gaining traction among entities aiming to mitigate the complexities and inefficiencies persisting in the long-undisrupted global shipping industry.
In the latest, a major Turkish-owned international terminals operator – YILPORT Holding – has integrated with TradeLens to tap the latter’s platform to access rapid data flows to aid in the efficient management of assets and containerized cargo.
Data flows are relayed in the form of API messages and, at present, there are six main messages that are operational between YILPORT and TradeLens. These messages are “gate in, gate out, vessel load, vessel discharge, actual load date list, and actual discharge date list.”
The integration with TradeLens will allow YILPORT to replace the old generation data exchange with near-instant data flows on top of a permissioned blockchain. The quick dissemination of messages among different stakeholders across the supply chain, such as shippers, agencies, port operators, and customs authorities, among others will result in greater operational efficiency.
Commenting on the development, Mark Wootton, CIO, YILPORT Holding, noted:
“By working with TradeLens YILPORT Holding will accelerate the digitization of global trade for importers and exporters across our network. Modernizing the processes through which logistics operates is critical to building more robust and efficient supply chains which will help with economic development and value creation for all parties.”
Promoting Efficiency in Shipping Industry via Blockchain
The peculiar characteristics of blockchain technology such as immutability and easy data accessibility make it ideal for industries – such as supply chain – that require the quick and secure transfer of data for operational purposes.
Last year in August, BTCManager reported that the Thai Customs Department had embraced TradeLens to foster transparency and digitize its decades-old paper-based shipping processes.
Other major players such as Alibaba can also be observed getting their feet wet in the shipping industry-based blockchain solutions space.
The onset of the COVID-19 pandemic has accentuated the pace of digitization of businesses across industries, and blockchain has emerged as a reliable technology to bank on for this need of the hour.