The port authority of Valencia in Spain started to work with TradeLens platform, created by IBM and the shipping company Maersk.

The launch of the platform took place in August 2018. TradeLens built on the blockchain and is intended for use in international supply chains. The platform improves the efficiency and security of trade and transportation of goods, as all participants of process of delivery — shipping companies, ports, terminal operators and customs authorities — have the opportunity to interact with documents in digital form, as well as to verify their authenticity and integrity.

The port of Valencia joined the project TradeLens as a “pioneer”. This means that it will test the platform at an early stage of development. In total, the project involved more than 20 companies. Today TradeLens handles 154 million “events” involving sending data. Under these “events” refers to container transportation, setting time-limits of storage and dealing with customs documentation. Through the use of the platform of carriage of goods is reduced to 40%.

It is worth noting that in early October the port of Valencia told the media about plans to create a “smart port” that will maintain the blockchain and big data technologies. According to the Manager responsible for the introduction of new technologies of the port of Valencia, the blockchain will be used to improve logistics processes on an international scale, eliminating the need for paper records and reducing maintenance time.

In October to test TradeLens joined the Port of Montreal and the canadian border services Agency. This platform is not the only blockchain solution for the shipping industry. Also last month, Europe’s largest port of Rotterdam has become a partner of a subsidiary IT company, Samsung, to test the developed system based on the blockchain for the transportation of Maritime cargo. And in September, the British port operator Associated British Ports has announced that it will develop a similar blockchain-solution together with the logistic company Marine Transport.