Hapag-Lloyd and Ocean Network Express (ONE) have signed up to TradeLens, the blockchain platform created by Maersk and IBM, bringing further critical mass to the digital development.
The two carriers follow swiftly after CMA CGM and MSC Mediterranean Shipping Company also signed up, meaning that TradeLens now has more than half of the world’s ocean container cargo covered.
“We believe this innovative approach based on open standards and open governance can benefit the entire industry while ultimately benefitting our customers who rely on the world’s shipping industry to transport global container volume of more than 120m tea across international borders each year,” said Noriaki Yamaga, managing director, corporate and innovation, ONE. “The opportunities to drive greater innovation across the shipping supply chain are enormous and we are excited about the opportunity to provide our leadership and insight to help the platform continue to evolve.”
TradeLens enables participants to digitally connect, share information and collaborate across the shipping supply chain ecosystem.
Members of TradeLens gain a comprehensive view of their data and can collaborate as cargo moves around the world, helping create a transparent, secured, immutable record of transactions.
Hapag-Lloyd and ONE will each operate a blockchain node, participate in consensus to validate transactions, host data, and assume a critical role of acting as trust anchors, or validators, for the network. Both companies will be represented on the TradeLens advisory board, which will include members across the supply chain to advise on standards for neutrality and openness.