Commercial Port of Vladivostok in Russia has been announced as the latest supply chain stakeholder to join the TradeLens blockchain platform.

TradeLens was created by Maersk and IBM and launched in late 2018, using blockchain technologies to allow data and digitised documents to be securely exchanged between cargo owners, shipping companies, customs authorities, ports and terminal operators.

The platform can be used to speed up the process of exchanging documents such as bills of lading for cargo, sanitary certificates, or invoices for payment, while still maintaining security and certainty in the chain of ownership across the supply chain in the absence of paper copies by using the blockchain.

“We are now testing the system and transferring information about loading and discharge of cargo, and berthing of vessels to the blockchain platform,” said Anton Popov, director of the IT department at Commercial Port of Vladivostok.

“After complete integration of the system, we will be able to optimise work with regulatory authorities, reduce the time required for processing documents and receive updates from the sea carrier online.”

Source: smartmaritimenetwork