Maersk, IBM to digitise global chains
The aim of the new company will be to offer a jointly-developed global trade digitisation platform built on open standards and designed for use by the entire global shipping ecosystem.
A.P. Moller - Maersk and IBM are set to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. The company will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones.
Maersk and IBM will use blockchain technology to power the new platform, as well as employ other cloud-based open source technologies including artificial intelligence (AI), IoT and analytics, delivered via IBM Services, in order to help companies, move and track goods digitally across international borders. Manufacturers, shipping lines, freight forwarders, port and terminal operators and customs authorities can all benefit from these new technologies and ultimately consumers. “This new company marks a milestone in our strategic efforts to drive the digitisation of global trade. The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit,” said Vincent Clerc, Chief Commercial Officer, Maersk & Future Chairman of the board of the new joint venture. “By joining our knowledge of trade with IBM’s capabilities in blockchain and enterprise technology, we are confident this new company can make a real difference in shaping the future of global trade.” The joint venture will now enable IBM and Maersk to commercialise and scale their solutions to a broader group of global corporations. “The major advances IBM has made in blockchain have shown that the technology can foster new business models and play an important role in how the world works by building smarter business,” said Bridget van Kralingen, Senior Vice President, IBM Global Industries, Solutions and Blockchain. “Our joint venture with Maersk means we can now avail speed adoption of this exciting technology with the millions of organisations who play vital roles in one of the most complex and important networks in the world, the global supply chain. We believe blockchain will now emerge in this market as the leading way companies seize new untapped economic opportunities.” Additional customs and government authorities, including Singapore Customs and Peruvian Customs, will explore collaborating with the platform to facilitate trade flows and enhance supply chain security. To address the specific needs of the industry, Maersk and IBM are establishing an advisory board of industry experts to help further shape the platform and services, provide guidance and feedback on important industry factors, and drive open standards.