Posted 2 years ago | by Ben Armstrong
Major Turkish Terminal Operator Partners With IBM and Maersk on TradeLens
TradeLens, the global shipping platform based on blockchain technology operated by shipping giant Maersk and IBM, just welcomed a new member – YILPORT Holding, a leading Turkish-based international terminals operator to the platform.
Officially launched in April 2018, TradeLens has managed up to about one million shipments recorded per day. The platform offers management and paperwork tracking systems and digitizes the supply chain process.
Basically, it functions with three main components – blockchain, which provides a mechanism to track goods from the factory for distribution – APIs enable users to build new applications on top of the platform – and a set of standards facilitate data sharing between customs, ports and shipping companies.
TradeLens has Been a Successful Blockchain Use Case
With 22 terminals and 6 domestic terminals across 11 countries, Turkish YILPORT Holding officially began data integration with TradeLens in July 2020 from its Gebze and Gemport terminals in Turkey.
Since the integration was complete, the operator of the terminals can now access data flows to control assets and containerized cargo more efficiently.
The API-supported data interactions between Yilport and the platform are reported to operate with six main messages – “gate in, gate out, vessel load, vessel discharge, actual load date list and actual discharge date list.”
More Opportunities are Coming
Through Tradelens, a number of different supply chain stakeholders, including suppliers, agencies, terminal services, logistics operators or financial intermediaries, are able to access shipping-related data on a permissioned blockchain.
TradeLens currently includes more than 20 terminals and terminals worldwide, as well as international customs, freight forwarders, import-export companies and shippers.
The groundbreaking project was been pioneered by IBM and Maersk, and has attracted plenty of participants from Indonesia, Thailand, Azerbaijan, the United states, Canada and various port operators, global agencies and customs authorities around the world.
According to a recent report, the potential of blockchain in the logistics industry, particularly in the supply chain, has gained more recognition since the COVID-19 crisis. Many started to consider this technology as a key means of creating more robust value chains for businesses , organizations, and even governments.
A Rising Trend in Logistics
A study on the use of blockchain-based solutions for supply chains that are highly vulnerable during the crisis – such as for various commodity markets and PPE and medical supplies – recently was released on the World Economic Forum.
A blockchain deployment toolkit was also released along with the report. With this support, governments and corporations can take the initiative to adapt their supply chains to the current economic situation and instability in international trade.
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