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- The service mission of TradeLens is to offer systems for the exchange of information between various supply chain partners.
- Mike White said about the immense potential of Tradelens by bringing the advantages of the digitized supply chain documentation.
- TradeLens designed using DLT to enhance the operations of Jordan in terms of security, visibility, and predictability in supply chain operations.
The Jordanian customs department set to pilot the TradeLens, the global trade digital platform, which is a joint effort of Maersk and IBM, underpinned by the latest blockchain technology. The service mission of TradeLens is to offer systems for the exchange of information between various supply chain partners, thus simplifying the shipping procedures and goods discharge operations in ports.
Mike White, CEO of Maersk GTD and Head Executive of TradeLens said about the immense potential of Tradelens by bringing the advantages of the digitized supply chain documentation and ease of extraction of data for government agencies, shippers, logistics providers, terminal operators, and carriers and thus establishing a more connected global supply chain ecosystem.
As per the agreements involving the concerned parties, a pilot zone will be established in the Aqaba customs for the transport of goods through their terminal vis TradeLens. Customs Executives noted that the Department of Jordanian had put forward several active initiatives to provide a transparent trade and prevent illegal activities like smuggling in ports.
CEO of Aqaba Container Terminal, Steve Yoogalingam, is very appreciative of the outcomes of this collaboration and said that TradeLens would boost up the transparency in the activities of the Jordanian department and would prove to be a worthwhile asset for transport facilitation.
This will take Jordan to great heights of public acceptability and be the most preferred transport gateway into the Levant. Aqaba Terminal jointly operated by Aqaba Development corporation and APM.
TradeLens designed using DLT to enhance the operations of Jordan in terms of security, visibility, and predictability in supply chain operations. This blockchain-powered platform integrates the Internet of Things (IoT) to predict the temperature, locations, and weight of transporting containers. The top 5 ocean carries already enable Their service. They are Maersk, Hapag-Lloyd, Ocean Network Express, CMA-CGM, MSC.
BTC Manager reported the collaboration of TradeLens with Thailand Customs Department for obtaining accurate container tracking to provide real-time information among stakeholders and authorized parties in the trade and supply chain. The agency believes that this partnership would foster transparency and improve its operations.
Thailand Customs has hinted the possible effects of TradeLens in mitigating fraud as the shipping officials will now be able to receive real-time information for all trading containers in transit as soon as they leave the parent port. DLT has proved its participation fruitful in a vast array of sectors.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
