Blockchain project of IBM and Maersk is now going to explore Russia's market

Blockchain project of IBM and Maersk is now going to explore Russia's market

On June 6 Maersk released news, that the blockchain project they have created with IBM, will now operate in Russia too.

TradeLens is a blockchain-based platform which was specially designed for improving worldwide trade. And now it’s going to Russia.

Maersk also declared about its contract with Russian authorities. It was signed during last week and will bring to TradeLens activity in Russia. St. Petersburg’s port is the decided location for the pilot version. It’s more suitable because of primary container gateway being located beside.

Logistic field member firms are the ones who act as nodes for the TradeLens’ system. The chain allows having a distributed view of transaction shipping for all the associates of the process. Maersk mentioned that the start in Russia is going to contribute a connection among shippers, regulative and governmental structures in the country. Also, it will essentially increase the rate of items flow over borders and cargo clearance.

TradeLens targets to present Russia digital documentation progress in what is presently chiefly paper-oriented shipping process.

The CEO and leader od TradeLens, Mike White said: “The corporation will bring to Russia complete clarity of cargo transits, parallelly facilitating seamless and safe distribution of real-time stock chain data to all process participants”.