In December 2018, Maersk and IBM partnered together to form TradeLens, a blockchain-based shipping solution for increased efficiency, transparency and security of global trade.
Saudi customs, on Monday, reported that they successfully shipped their first blockchain-tracked shipment. All details and documents regarding shipping were handled through Fasah, an exclusive shipment tracking portal built by Saudi Arabia for secure and rapid exchanges of electronic data between all parties involved in a trade.
The cargo traveled from Dammam in Saudi Arabia to Rotterdam in the Netherlands. In February this year, a pilot test to enable blockchain-based supply chain management was conducted with the integration of TradeLens and Saudi Customs. According to RTT News, Riyadh-based IT firm Tabadul integrated Fasah with TradeLens to execute the process in January this year.
The governor of Saudi Customs, Ahmed Al-Hakbani, said that this step would establish Saudi Arabia as “one of the world’s premier logistics hubs.” Further, he hinted that the organization had plans to bring the blockchain system to other ports in the Kingdom. Al-Hakbani said,
“We chose to embark on this tech journey knowing that change is uncomfortable, but it is inevitable to be a leading global player.”
Saudi Customs is one among 93 other organizations that allied with IBM’s TradeLens back in 2018 to test out the platform.
IBM has continuously been in the news for its blockchain services-related patents.
Last year, IBM took its food-tracking blockchain into production by signing with European supermarket giant, Carrefour. The idea behind IBM’s food-tracking blockchain is its ability to track items back and forth through the supply chain.
In April this year, IBM was awarded a blockchain patent for self-driving cars.
This article was originally sourced from BTCManager.
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