Within a month of announcing general availability of the TradeLens platform in China, more than 10 new members have joined the ecosystem to digitize paper-based processes and improve the visibility for Chinese companies into global trade.
NANJING, China Unicom Digital Tech, A.P. Moller – Maersk (MAERSKb.CO) and IBM (IBM) announced that more than 10 members have joined TradeLens in Chinese Mainland in the first month since its launch on May 10. The new members of the ecosystem to advance trade digitization include industry-leading Chinese companies, two port groups and eight intermodal and inland logistics providers. TradeLens is a neutral blockchain-enabled digital container logistics platform, jointly developed by A.P. Moller - Maersk and IBM, and includes foundational carriers CMA CGM and MSC Mediterranean Shipping Company. China Unicom Digital Tech hosts and operate TradeLens in Chinese Mainland, making it available to global and domestic exporters and importers in China.
The TradeLens platform is built by the industry and for the industry and is designed to modernize trade in a number of crucial dimensions. Through the platform, TradeLens customers gain access to end-to-end container transportation visibility, can collaborate with their logistics and trading partners including sharing documents on blockchain, and gain a comprehensive picture of the flow of goods. Partner Access can helps drive synergies across supply chain ecosystem, and TradeLens electronic Bill of Lading helps eliminate costly paperless processes that are prone to human error.
A signing ceremony was held during the event signaling the rapid adoption of China enterprises to embarking digital innovative journey with the platform.
TradeLens brings together data from the entire global supply chain ecosystem including shippers, port operators, intermodal operators, customs authorities, and shipping lines. It aims to modernize manual and paper-based documents, replacing them with blockchain enabled digital solutions. Launched in 2018, the TradeLens ecosystem now includes direct integrations with more than 300 organizations – extending to more than 10 ocean carriers and encompassing data from more than 600 ports and terminals. Already it has tracked over 42 million container shipments, close to 2.2 billion events and roughly 20 million published documents.
As part of the deployment of TradeLens in the Chinese market, China Unicom hosts the TradeLens platform allowing near real-time data direct from the source with one of the world’s largest economies. Making these data immediately available for use by exporters and importers working with the Chinese markets means clients worldwide can now achieve efficiencies in their operational workflows for documentation and best in class container visibility. You can read more about TradeLens here.