IBM and Maersk launch in Russia, the blockchain-a platform for international trade

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Maersk, the largest operator for container transportations of marine transport vessels operating on the market since 1996, signed a partnership agreement with American IT company IBM to launch in Russia, the blockchain platform called TradeLens contributing to the promotion of international trade.

Introduction of technology of the blockchain to the Russian market is aimed to replace the document management in the process of moving from paper to digital. It is expected that this will improve the efficiency of international trade for Russia.

The port of Saint-Petersburg will become the first member of the pilot project

A pilot project is planned to start in St. Petersburg, where the bulk of container traffic of the country.

CEO of Maersk, Yuri Tsvetkov said that TradeLens will increase the transparency of the contract award procedure, “providing information about supply and demand, conditions of contracts and transactions between many participants in the transport and logistics processes.”

TradeLens will be a blockchain platform that can handle more than 10 million deliveries and thousands of documents every week. Possible blockchain platform will allow all participants in the transport process to access secure and permanent transaction records associated with the products they deliver.

Overall, Russia has taken a relatively strong stance on the adoption and use of technology of the blockchain, but can not determine the use of cryptocurrencies.

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Label: IBM, Maersk

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