LogisticsNews Middle East - - Regional News March 2018 -

Global lo­gis­tics provider, Agility, has be­come the Ƥrst freight for­warder to col­lab­o­rate on Maersk and IBM’S blockchain so­lu­tion, which aims to pro­vide more eƥ­cient and se­cure meth­ods for con­duct­ing global trade.

IBM and Maersk re­vealed their global trade digi­ti­sa­tion plat­form, built on the Hyper­ledger Fab­ric 1.0 blockchain, in Jan­uary. Dupont, Dow Chem­i­cal, Te­tra Pak, the U.S. Cus­toms and Bor­der Pro­tec­tion, and oth­ers pi­loted an early ver­sion of the project.

Agility has agreed to iden­tify events as­so­ci­ated with in­di­vid­ual ship­ments and to share and re­ceive in­for­ma­tion about them via the dis­trib­uted ledger blockchain tech­nol­ogy de­vel­oped by IBM and Maersk. Agility’s goal is to re­duce costsȃ which re­port­edly ac­counts for one-ƥfth of the world’s to­tal $1.8tn an­nual ship­ping costs– and in­crease ship­ping eƥ­ciency by in­te­grat­ing in­for­ma­tion about ship­ments onto a se­cure plat­form ac­ces­si­ble to ship­pers, car­ri­ers, freight for­warders, and oth­ers in the sup­ply chain.

Essa Al-saleh, CEO of Agility Global In­te­grated Lo­gis­tics, said: “Blockchain tech­nol­ogy is go­ing to make ship­ping cheaper, safer and more re­li­able. As early adopters, com­pa­nies like Agility can help Maersk and IBM un­der­stand the needs of ship­pers and de­velop stan­dards that will make trade more eƥ­cient. We can help cus­tomers un­der­stand how to use blockchain to im­prove ship­ment vis­i­bil­ity, elim­i­nate pa­per­work, re­duce er­rors, and shorten tran­sit and clear­ance times.”

In ad­di­tion to show­ing the lo­ca­tion of con­tain­ers in tran­sit, blockchain can show the sta­tus of cus­toms doc­u­ments, bills of lad­ing, and other doc­u­men­ta­tion. It can im­prove workƪow, cut pro­cess­ing costs, and en­hance vis­i­bil­ity by in­te­grat­ing ship­ping pro­cesses and part­ners. Cus­toms and bor­der au­thor­i­ties can use the tech­nol­ogy to im­prove the in­for­ma­tion avail­able for risk anal­y­sis, lead­ing to in­creased safety and se­cu­rity as well as greater efƤ­ciency in bor­der in­spec­tion clear­ance.

Other blockchain-based ship­ping ini­tia­tives are un­der­way, in­clud­ing those re­lat­ing to trade Ƥnance, prod­uct prove­nance, and the con­sol­i­da­tion of ad­min­is­tra­tive pro­cesses.

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