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Maersk, IBM Launch Blockchain-Based Shipping Platform TradeLens

A.P. Moller-Maersk A/S, the world’s largest container line, and International Business Machines Corp. have launched a blockchain-based platform for sharing transaction information in real time, to speed up shipments.

Maersk and IBM are targeting industry adoption of TradeLens, created as part of their technological partnership, to exchange and store information including shipping data and documents, according to a statement published Thursday. More than 90 organizations are already involved in or have agreed to participate, Copenhagen-based Maersk said.