The Challenge of Supply Chain Transparency
Shipping companies often face delays, increased costs, and inefficiencies due to a lack of transparency and visibility in the supply chain. Maersk was no exception and realized that it needed to solve this problem to remain competitive.
Solution — Blockchain
How Blockchain Technology Transformed the Supply Chain
Maersk partnered with IBM to create TradeLens, a blockchain-based platform that uses smart contracts and digital signatures to track and trace goods across the supply chain. This provides a decentralized, secure, and transparent platform, ensuring transparency and reducing delays.