Spanish Port Authority Joins the IBM and Maersk Developed Blockchain Platform

Blockchain Technology

A Spanish Port Authority or the APBA (Port Authority of the Bay of Algeciras) has reportedly signed an agreement that will see it enter into a collaborative effort with IBM on Tradelens its shipping platform. The report was initially published by Europa News on Jan. 21. The Tradelens shipping platform owned by the Port Authority of the Bay of Algeciras is a digital forum based on the Blockchain-based solution developed by IBM and Maersk the international shipping giant.

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The Collaboration Will Allow the Secure and Efficient Exchange of Data And Documentation Between Parties on APBA

The Port Authority of the Bay of Algeciras is reportedly among the top ten busiest ports in the European continent, hosting no more than 70 million in terms of the volume of cargo traffic per anum. Back in 2017, the Algeciras port reportedly had a container throughput reaching 4.3 million containers. As per the report, one APBA note published by Europa News indicates that the platform will let APBA operate more securely and efficiently exchange data and documentation between parties in a supply chain.

According to the note, the new Blockchain-based platform is designed to generate value for both shippers, and freight forwarders, along with logistics operators and shipping firms. According to Europa Press by the end of last year, the solution onboarded no less than 100 business organizations and at least 20 port operators while Tradelens has reportedly registered an impressive 230 million shipments going on to process more than 20 million containers to this day.

Leading Port Operators Have Increased the Implementation of Blockchain-based Solutions to Ensure Streamlined Operations

Recent reports in the sector have shown massive dependency or adoption of the Blockchain network. We can recall from a previous report that leading port operators have started to increased the implementation of the blockchain technology to ensure that operations are truly streamlined. Back in October last year, it was reported that the Port of Rotterdam situated in the Netherlands went into a partnership with ABN AMRO a major Dutch bank and the IT subsidiary of Samsung in a bid to test the benefits of the Blockchain technology in the shipping sector.

Global Blockchain Adoption in the Shipping Industry

It appears this report of shipping ports entering into the Blockchain is going global. Apart from the above-mentioned reports, back in June 2018, one Abu Dhabi Ports subdivision or subsidiary became the first institution in Abu Dhabi to deploy a self-made Blockchain solution. The Abu Dhabi subsidiary known as Maqta Gateway LLC reportedly developed and launched its own Blockchain based solution called Sisal. According to the official report, Sisal is designed to improve efficiency in the logistics and shipping sector in the country.

Finally according to another report from September last year the leading port operator in the United Kingdom known as Associated British Ports, went into an agreement with Marine Transport International (a globally renowned digital logistics enabler) in a bid to demonstrate the potential of the Blockchain initiative for improving port logistics and operations.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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