Agility, a global third-party
logistics provider, has joined IBM and Maersk's blockchain collaboration, the
companies announced Tuesday.
IBM and Maersk revealed their
global trade digitization platform, built on the Hyperledger Fabric 1.0
blockchain, in January. DuPont, Dow Chemical, TetraPak, the U.S. Customs and
Border Protection and others piloted an early version of the project.
The latest participant, Agility
will share and receive information about individual shipment events through the
blockchain in hopes of reducing the massive cost of administration and
documentation – which reportedly accounts for one-fifth of the world's total
$1.8 trillion annual shipping costs.
"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 efficient," Essa Al-Saleh,
CEO of Agility Global Integrated Logistics, told American Shipper.
Blockchain technology can
streamline shipping by showing the status of documents like customs forms and
bills of lading, thus helping to reduce the time it takes for shipments to
clear inspections. Migrating shipping information onto the blockchain could
also help facilitate more comprehensive risk analysis.
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