Transportation and logistics company Maersk and IBM announced on January 16 that they are joining together to create a block-based supply chain company. The aim of the venture is to market Blockchain to the entire supply chain system, transport to ports and banks to customs offices.
Blockchain technology is uniquely able to provide special control for the logistics industry as it can replace tedious and unsafe papers with secure digital records that are also transparent.
Maersk’s commercial director, Vincent Clerc, who will serve as chairman of the newly formed board for the joint venture, was quoted in the official announcement:
“The potential to provide a neutral and open digital platform for safe and easy ways to exchange information is enormous and all users in the supply chain can benefit.”
The company promised to deliver the new project by the end of last year. The offer is a year’s fulfillment of planning by both companies, each of which invested in Blockchain in several other ways as well. The joint venture expects to begin offering its software solutions in the third quarter of 2018.