TradeLens

TradeLens is a blockchain-based shipping platform developed by IBM and Maersk. Its primary goal is to digitize and modernize global trade by providing a secure and transparent way to track and manage the movement of goods. The platform aims to connect all participants in the supply chain, including shippers, freight forwarders, ports, customs authorities, and shipping lines, onto a single, shared ledger.

This shared ledger allows for the immutable recording of shipping events, such as container pickups, departures, arrivals, and customs clearances. By providing this real-time, end-to-end visibility, TradeLens seeks to reduce friction in international trade, minimize paperwork, and decrease delays. It also aims to enhance security and reduce the risk of fraud through the inherent security features of blockchain technology.

The platform offers various solutions, including digital bill of lading, customs processing, and shipment tracking. It is designed to streamline processes that have traditionally been paper-intensive and complex. TradeLens operates as a consortium, with a growing network of participants from around the world. The initiative has been met with both enthusiasm for its potential to revolutionize trade and some skepticism regarding industry adoption and data governance.