YILPORT Holding has joined IBM and Maersk’s global blockchain shipping platform TradeLens. Amid the Covid-19 crisis, blockchain technology is helping companies adapt their supply chains to the current economic climate and global trade disruptions.
TradeLens is a digital shipping platform powered by blockchain technology. It was jointly designed by IBM and Maersk in April 2018, TradeLens is a global supply chain management platform for container shipping and logistics. It works by providing standards-based open APIs that enable supply chain data to be immutably and securely tracked and shared via blockchain.
YILPORT Holding joins TradeLens to increase collaboration in the supply chain
YILPORT Holding, owned by Turkey, operates 22 terminals in the country and 6 inland terminals in 11 countries, would have started integrating data from Gebze and Gemport terminals in Turkey into TradeLens in July 2020.
Once the integration is complete, the terminal operator can access data streams to support the more efficient management of container freight and cargo.
Six main messages will be active during the API-supported data exchange between Yilport and the platform: “Entry, exit, ship loading, ship unloading, list of actual loading dates and list of actual loading dates”.
Through TradeLens, This data related to container shipping can be accessed via the blockchain platform for a variety of different actors in the supply chain, e.g. B. air carriers, agencies, port operators, customs authorities, or financial service providers.
IBM and Maersk’s pioneering initiative has been engaged in coordinating various government agencies and customs agencies around the world. This attracted participants from Indonesia, Thailand, Azerbaijan, the USA, and Canada, among others.
Blockchain adoption accelerates amid Covid-19 pandemic
Recently, companies, organizations, and even governments are using Blockchain technology. They now see blockchain as a key tool to develop more resilient value chains after the Covid-19 pandemic.
The World Economic Forum recently published a report examining the implementation of blockchain-based solutions for supply chains. Its fragility was fully exposed during the pandemic in various markets for goods or personal protective equipment as well as medical supplies.
The forum also released a number of blockchain implementation tools aim to help governments and companies adapt their supply chains to the current economic climate and global trade disruptions.