Agility joins the Blockchain technology project of Maersk and IBM

Agility, a global logistics provider, joined IBM and Maersk in their collaborative project that will work with Blockchain technology.

As we have already mentioned, the global shipping giant Maersk wants to unite supply chains around the world through Blockchain technology. By having access to a shared and reliable transaction log, Maersk executives claim that global shipping companies would save money and could compete with improved services. To achieve this, the company plans to use IBM's open source Hyperledger Fabric software.

The most recent member of the team, Agility will share and receive information on individual shipping events through the blockchain in the hope of reducing the massive cost of administration and documentation, which reportedly represents one fifth of annual shipping costs total of USD $ 1.8 billion worldwide.

Essa Al-Saleh, CEO of Agility Global Integrated Logistics, told American Shipper:

Blockchain technology will make shipping more economical, safer and more reliable. As first users, companies like Agility can help Maersk and IBM understand the needs of carriers and develop standards that will make the trade more efficient,

For the moment other sending initiatives based on blockchain are being considered, including those related to trade financing, the origin of products and the consolidation of administrative processes. However, as American Shipper points out, the appearance of a multiplicity of projects can be detrimental in the end, since they run the risk of developing simultaneously, but separately, creating a potentially fractured system similar to the existing one.