ZIM Integrated Shipping Services has announced that it has signed on as a member of TradeLens, a blockchain-enabled digital shipping system jointly developed by A.P. Moller – Maersk and IBM.
TradeLens uses blockchain technology to connect trading partners, including carriers, freight forwarders, customs officials and port authorities, allowing them to securely conduct transactions in a digitised global trade documentation system.
TradeLens ecosystem members get a single shared view of transactions on the network without access to compromising details, the developers said, allowing them to collaborate more efficiently through real-time access to shipping data and shipping documents.
“We are very pleased to join TradeLens, as part of our vision to be at the forefront of digital innovation in shipping,” said Eyal Ben Amram, ZIM CIO.
“ZIM endorses a proactive approach of promoting and investing in innovative digital solutions, such as the pioneering blockchain-based electronic Bill of Lading initiative, in collaboration with Wave Inc, and the recent investment in Ladingo, a ground-breaking e-commerce solution.”
The addition of a competing container carrier like ZIM to the Maersk-developed Tradelens ecosystem is an important boost for the blockchain initiative, with the value of the system dependent on widespread acceptance amongst a large number of supply chain stakeholders.