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Valencia adopts Maersk-IBM blockchain

Valencia - The port of Valencia, one of the largest in Europe by volume, has joined the TradeLens project, a technological solution developed by IBM and Maersk, to apply to the global supply chain the blockchain technology

Valencia - The port of Valencia, one of the largest in Europe by volume and the second in the Mediterranean, has joined the TradeLens project, a technological solution developed by IBM and Maersk, to apply to the global supply chain the blockchain technology.

The TradeLens ecosystem - writes Valenciaport in a press release - currently includes more than 20 port operators and terminals around the world, representing approximately 234 seaports on five continents, including PSA Singapore, ICTSI, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase and terminal operators Holt Logistics in the Port of Philadelphia.

According to the data collected by the system itself, the use of TradeLens allows to reduce the transit time of a shipment by 40%, which represents an important economic saving.

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