Blockchain and Supply Chain Logistics by Nachiappan Subramanian & Atanu Chaudhuri & Yaşanur Kayıkcı

Author:Nachiappan Subramanian & Atanu Chaudhuri & Yaşanur Kayıkcı
Language: eng
Format: epub
ISBN: 9783030475314
Publisher: Springer International Publishing

5.3 Blockchain Application Cases in Transportation

TradeLens: Maersk and IBM joint digital shipping platform

Roughly ninety percent of world’s goods are carried by the sea transport each year. The leading ocean shipping company Maersk launched with the collaboration of IBM a new blockchain solution based on Hyperledger Fabric, named TradeLens (https://​www.​tradelens.​com/​) shipping blockchain platform to manage and track the paper trail of tens of millions of shipping containers across the world by digitizing supply chain processes. The objective of TradeLens is to support information exchange and transparency across transportation supply chain and encourage innovation. The platform is expanding with the participations of other ocean carriers like Hapag-Llyod, Ocean Network Express etc. The blockchain-enabled digital shipping solution is designed to promote more efficient, secure and fast documentation workflows and deliver freight goods across international borders, also it helps to reduce fraud and errors, reduce the time spent on products in the transit and shipping, improve inventory management and finally reduce waste and cost. The recent study showed that a simple refrigerated goods shipment from Africa to Europe passed through more than 30 organisations including 200 separate interactions and communications among them (Lewis 2017) and any process interruption along those shipping processes can cause the container to be held or lost (Van Mölken 2018). Blockchain simplifies the shipping processes, records data securely and immutably and enables real-time visibility and shipment status along transportation supply chain. The blockchain platform uses a private ledger for end-to-end visibility, which is accessible only to authorized partners based on their level of permissions. Stakeholders in supply chain ecosystem can monitor the real time status of cargo along the transportation supply chain and track where cargo is in transit and they can also view all documentation including bills of lading, and customs document. No one can delete or append any record without consensus with others.

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