Blockchain increases shipping supply chain efficiency
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Maersk worked with IBM to track a shipment from French company Schneider Electric to the east coast of the United States. The shipment left Europe from the port of Rotterdam and arrived at Newark, New Jersey. The entire process took two weeks, and all parties involved tracked the shipment online via relevant log-ins specific to their part in the overall transaction. With an average shipment requiring upwards of 200 different sets of paperwork, the Maersk team believes blockchain could help reduce fraud as well as increase efficiency. Shipping revenues are in decline, and many empty containers are sitting in the…
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