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MSC and CMA CGM join TradeLens blockchain trade platform developed by Maersk and IBM

MSC and CMA CGM join TradeLens blockchain trade platform developed by Maersk and IBM
The world’s second and third largest container lines MSC and CMA CGM are joining the blockchain digital shipping platform TradeLens developed by the biggest box line AP Moller – Maersk and IBM.

TradeLens enables participants to connect, share information and collaborate across the shipping supply chain using blockchain technology to connect the partners.

With MSC and CMA CGM joining TradeLens all of the top three container lines globally are now on the platform giving it a significant boost. Combined with other lines committed to the platform nearly half the world’s container cargo will be available on TradeLens. With over 100 participants on the platform TradeLens said it was already processing over 10 million discrete shipping events and thousands of documents each week.

Read more: Maersk, IBM launch TradeLens blockchain platform with 94 signed up

"Digitization is a cornerstone of the CMA CGM Group's strategy to provide an end-to-end offer tailored to our customers' needs. We believe that TradeLens, with its commitment to open standards and open governance, is a key platform to help usher in this digital transformation," said Rajesh Krishnamurthy, evp, IT & transformations, CMA CGM Group.

“The TradeLens platform has enormous potential to spur the industry to digitize the supply chain and build collaboration around common standards," said André Simha, chief digital & information officer for MSC.

Both CMA CGM and MSC will be on the TradeLens advisory board and will operate a blockchain node, participate in consensus to validate transactions, host data, and will act as trust anchors.

"The major advances IBM continues to make in blockchain illustrate that the technology is fostering new business models and playing an important role in how the world works" said Bridget van Kralingen, svp, global industries, clients, platforms & blockchain for IBM.

On the shipper side of the equation Proctor & Gamble (P&G) have been testing the system and wil gain from having more major lines on the platform.

We are convinced that the industry will benefit from the transparency and accuracy of blockchain solutions and we are pleased to see MSC, CMA CGM, and Maersk all on the TradeLens platform,” said Michelle Eggers, director global logistics purchases for P&G.

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