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.
Blockchain technology is poised to recover billions of dollars lost to coordination costs in both capital markets and the shipping industry.
Global shipping giant Maersk has conducted its first blockchain-based shipment in partnership with IBM.