IBM's TradeLens shipping blockchain expands

The blockchain consortium TradeLens dedicated to maritime transport now has a new member. The port of Salalah in Oman joined the blockchain launched by IBM and Maersk in the international trade sector.

The banks are not the only ones interested in the potential of blockchain in the field of international trade. Several global players in logistics thus formed their own blockchain consortia.

This is the case with Maersk, who partnered with the tech giant IBM, to create a blockchain platform serving the supply chain: TradeLens. This private blockchain, now operated by over 100 organizations, now has a new member in the Middle East.

TradeLens, potential partner of the we.trade banking consortium

As part of its modernization, which includes the digitalization of its operations, the port of Salalah in Oman announces that it is joining TradeLens. According to the port administrators, this approach allows it, as well as its customers, a secure and transparent exchange of information and better collaboration with supply chain stakeholders.

Ultimately, the objective of the port of Salalah is to increase the flow of goods passing through its infrastructure through an improvement of the supply chain. Integrating data with an important client such as the Port of Salalah is an important step for TradeLens and a springboard for collaboration, further highlights a Maersk executive.

TradeLens is today one of the main operational blockchain consortia in the trade finance, that is to say international trade. This is also the case, for example, Marco Polo, komgo or we.trade.

On the occasion of the conference Blockchain Paris in November 2019, Thierry Roehm, an executive from Société Générale and we.trade, also mentioned the possibility for the platform to interconnect in 2020 with TradeLens.