Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform

Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform
The Maersk Line container ship Maersk Sentosa is helped by tugs as it navigates the River Mersey in Liverpool, Britain, July 31, 2018. Reuters/Phil Noble
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Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.

The industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy.