Copenhagen Malmö Port opts for TradeLens blockchain platform

Scandinavian port operator Copenhagen Malmö Port (CMP) has initiated a joint collaboration with TradeLens, a blockchain-based platform jointly created by Maersk and IBM.

Illustration. Image Courtesy: Maersk/TradeLens

As explained, the collaboration will eventually enable CMP to modernise manual workflows and procedures and ensure more seamless collaborations between actors within the logistics chain. 

Illustration. Image Courtesy: Maersk/TradeLens

“We are constantly working to further develop the port’s digital DNA as a tool to promote intelligent logistics solutions. TradeLens offers a platform that enables, via innovative blockchain technology, a more secure and transparent cooperation in the logistics chain – thus benefiting all stakeholders by optimising traditional workflows. There is no question that we need to be a part of this,” Povl Dolleris Røjkjær Ungar, COO of Copenhagen Malmö Port, commented.

The TradeLens platform currently includes over 130 direct connections to ports and terminals and continues to grow.

“TradeLens is an industry-wide neutral platform aiming to transform a complex container logistics industry. The expansion and scale of our digital ecosystem is the foundation for driving benefits for all on the platform. With CMP collaborating with TradeLens, we welcome an important Scandinavian port operator in joining our efforts to remove manual tasks and enable digitized workflows across the logistics industry,” Lars Kastrup, Head of Sales for TradeLens at Maersk, said.

In short, blockchain technology is a secure system making what is referred to as the “Internet of Value” possible. What this means is the exchange of unique information that cannot be copied or manipulated. It allows parties to share information and be transparent to a degree that has not been possible until now.