The Port Of Valencia Switched To Blockchain
The administration of the port of Valencia (Spain) joined the TradeLens blockchain platform developed by IBM in cooperation with the Danish shipping company Maersk.
Thanks to blockchain technology, the TradeLens platform, launched in August this year, coordinates the actions of all participants in the supply chain, including shipping lines, port and terminal operators and customs authorities.
Currently, there are more than 20 participants in the TradeLens ecosystem who have taken on the mission to contribute to the early development of the platform. The fact that the platform has now joined and PAV, it became known from the official statement of the port administration on Monday, November 5th. However, for the first time plans to create a “smart-port” PAV announced in early October.
TradeLens reportedly reduces delivery times by 40% and has already handled 154 million “data transfer events” such as container shipping, warehousing time and customs documentation.
Earlier, it has been reported that the blockchain could make a revolution in the field of sea freight. Last month, Europe’s largest port of Rotterdam also began testing a blockchain platform for the supply chain, developed jointly with Dutch Bank ABN AMRO and a subsidiary of Samsung. And in September, the leading British port operator, Associated British Ports, signed an agreement with the digital logistics division of Marine Transport International to create a blockchain solution that improves logistics within the company.