The COVID-19 outbreak forces the supply chain players around the world to direct their energies to be more robust through digitalization, especially blockchain technology.
DP World, one of the world's leading port operators, announced on 28 May that it will join the blockchain shipping platform TradeLens created by IBM and Maersk. IBM and Danish shipping and logistics giant Maersk started producing effective shipping solutions with global block chains, according to an official press release.
The new Blokchain solution, created jointly, has brought 94 participating organizations and currently 154 million transportation problems. TradeLens, the global supply chain platform, announced that the data set grew at a rate close to one million shipping events a day.
The platform's expanding geographic coverage and effective, blockchain-based digital documentation flow support are beginning to see the value it deserves during the outbreak.
Global value chains, many of which are still generally based on paper-based transactions, have experienced great strain due to unstable supply and demand, transportation problems, and workload disruptions.
Supply chain experts stressed that better visibility and reduced operational issues are key to global economic recovery.
"The situation caused by Corona virus has been a good trigger to ensure that everyone can communicate digitally in the supply chain," said Mike Bhaskaran, COO of the Dubai-based operator. she explained.
"We saw a lot of skeptical people about the validity of blockchain solutions, with over 90 organizations and over 150 million issues caught in the system, I think we wouldn't know in terms of where people spend." It's time to take advantage of blockchain. "
Potential of TradeLens
TradeLens works by providing standard-based open APIs that allow supply chain data to be tracked securely and transparently and shared using permission-based blockchain.
DP World will be able to track container flow across multiple carriers and increase the effectiveness of its operations in the supply chain cycle, integrated with TradeLens.
According to Maersk's announcement, DP World aims to connect all 82 ports global network, container terminals on land, distribution companies and logistics units with the platform.
In line with these developments, we have seen that blockchain technology can enter our lives in many places in the future. As Marie Wieck puts it, it's time to take advantage of this developing technology every day. Transformation is inevitable.