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IBM, Maersk’s Blockchain Platform TradeLens Is Shipping to Russia

A blockchain-powered platform built by IBM and Maersk and designed to facilitate international trade is to launch in Russia.


According to a June 6 news release from Maersk, the Danish shipping and logistics giant, agreement has been reached with Russian authorities for the TradeLens platform to operate in the country, starting with a pilot project alongside the country’s primary container gateway, the port of St. Petersburg.


TradeLens allows container logistics industry participants to have a shared view of shipping transaction data, with member firms acting as nodes to support the blockchain system. With the move into Russia, Maersk said the project aims to facilitate interactions between shippers and regulatory and administrative entities in the country, “ultimately increasing the speed of cargo clearance and movement of goods across borders.”


At the signing of a memorandum of understanding over the arrangement last week, Yuriy Tsvetkov, Russia’s deputy transport minister and head of Federal Maritime and River transport Agency, said:


“The main result of the implementation of TradeLens, according to our expectations, should be an increase in the transparency of the contracting procedure by distributing information about supply and demand, conditions and operations between many participants of the transport and logistics processes.”

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