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United States

Maersk And IBM To Form Joint Venture Applying Blockchain To Improve Global Trade And Digitize Supply Chains


Tuesday, 16 Jan 2018 07:00am EST 

Jan 16 (Reuters) - International Business Machines Corp ::MAERSK AND IBM TO FORM JOINT VENTURE APPLYING BLOCKCHAIN TO IMPROVE GLOBAL TRADE AND DIGITIZE SUPPLY CHAINS.IBM - ‍MAERSK AND IBM HAVE NAMED MICHAEL J. WHITE, FORMER PRESIDENT OF MAERSK LINE IN NORTH AMERICA, AS CEO OF NEW COMPANY​.IBM - UPON REGULATORY CLEARANCE, SOLUTIONS FROM JOINT VENTURE EXPECTED TO BECOME AVAILABLE WITHIN SIX MONTHS.IBM - AIM OF NEW CO WILL BE TO OFFER A JOINTLY DEVELOPED GLOBAL TRADE DIGITIZATION PLATFORM DESIGNED FOR USE BY ENTIRE GLOBAL SHIPPING ECOSYSTEM.IBM - NEW COMPANY WILL BE HEADQUARTERED IN NEW YORK METROPOLITAN AREA.IBM - NEW CO INITIALLY PLANS TO COMMERCIALIZE TWO CORE CAPABILITIES AIMED AT "DIGITIZING GLOBAL SUPPLY CHAIN FROM END-TO-END".IBM - CORE CAPABILITIES THAT NEW CO INITIALLY PLANS TO COMMERCIALIZE INCLUDE A SHIPPING INFORMATION PIPELINE & PAPERLESS TRADE.IBM - ADDITIONAL GOVERNMENT AUTHORITIES, INCLUDING SINGAPORE & PERUVIAN CUSTOMS, WILL EXPLORE COLLABORATING WITH JV PLATFORM TO FACILITATE TRADE FLOWS.IBM - GLOBAL TERMINAL OPERATORS APM TERMINALS AND PSA INTERNATIONAL WILL USE JV PLATFORM TO "ENRICH" PORT COLLABORATION AND IMPROVE TERMINAL PLANNING.