IBM has recruited two more major shipping carriers to join the blockchain platform it owns with container giant Maersk.
A blockchain-powered platform built by IBM and Maersk and designed to facilitate international trade is to launch in Russia.
IBM and Maersk's shipping blockchain has finally recruited two major marine cargo carriers after early efforts floundered.
LVMH, parent company of Louis Vuitton, is about to launch a blockchain for proving the authenticity of luxury goods, sources say.
Since Maersk and IBM launched TradeLens 10 months ago, only one other carrier has joined the network. As those involved admit, that's not enough.
TradeLens has attracted a wide variety of entities ranging from port operators and customs authorities to logistics companies and even rival carriers.
A group of companies piloting a blockchain-based insurance platform for global shipping industry said the technology is now live in commercial use.
Agility will share and receive information about shipments through the blockchain in hopes of reducing the cost of administration and documentation.
Global shipping giant Maersk is spinning off its blockchain work with IBM in an effort to foster collaboration between competitors.
A joint venture between shipping giant Maersk, Microsoft and accounting firm EY aims to apply blockchain technology in the field of marine insurance.