Two new shipping companies have joined the blockchain shipping platform TradeLens used for the global shipping supply chain.
German Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) have announced they will participate in TradeLens. With these additions, five out of six of the biggest shipping companies are now part of the blockchain platform, and TradeLens now covers more than half the world’s ocean container cargo.
“Now, with five of the world’s six largest carriers committed to the platform, not to mention many other ecosystem participants, we can collectively accelerate that transformation to provide greater trust, transparency and collaboration across supply chains and help promote global trade,” said Managing Director Information Technology at Hapag-Lloyd Martin Gnass.
The blockchain was developed by A.P. Moller - Maersk and IBM to modernise supply chains. Both Hapag-Lloyd and ONE will operate a blockchain node and will participate in consensus to validate transactions.