Algeciras Goes Blockchain With IBM Shipping Platform

Algeciras Goes Blockchain With IBM Shipping Platform

US-based technology company IBM and the Port Authority of the Bay of Algeciras in Spain have reached an agreement to deploy blockchain-powered shipping platform called Tradelens, according to a report from Europa Press.

According to the Port Authority of the Bay of Algeciras, APBA, they will implement the solution developed by IBM and Maersk. TradeLens was launched in August 2018 as a Blockchain shipping solution that promotes a “more efficient and secure global trade, bringing together various parties to support information sharing and transparency, and spur industry-wide innovation,” as the TradeLens highlighted in its launching press release.

TradeLens will provide APBA with a more secure and efficient exchange of information and tracking of the supply chain. Algeciras is one of the top ten busiest ports in Europe with over 70 million tons of cargo traffic and also the most important linking between Europe and Africa by ships.

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