Maersk is world's largest shipping company and IBM no doubt is the premier tech mover of blockchain. Now both giants decide to form a blockchain based shipping company to digitize and enhance global trade. This definitely is a fresh air of technolgy adoption into world's oldest industry.
The new company name is yet to be announced but its goals are very clear. As per joint statement of both companies, new company will develop blockchain based technology entirely built on open standards with focus to facilitate global shipping ecosystem. This agreement seems a result of partnership program announced last year between both companies.
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According to the news, Maersk will implement the blockchain software of IBM named Hyperledger Fabric. In addition to the deployment of this software additional cloud technologies in artificial intelligence will also be implemented to track shipments. IBM claims to save $38 billion in one year by digitizing network of freight forwarders, ocean carriers and ports.