Cái Mép International Terminal (CMIT), located in Ho Chi Minh City, Vietnam, appear Dec. 19, that it had joined the TradeLens blockchain platform.

CMIT is i of the largest terminals in the Cái Mép-Thị Vải deep-water gateway port complex, providing a direct link from Vietnam to European, North American and Asian markets. CMIT general director, Jan Bandstra said that the determination to join the blockchain-based program was driven past customer demand for instant shipping information.

Having transparent, accessible cargo data is essential for the complexities of the global shipping industry, equally CMIT deputy director Nguyen Xuan Ky illustrated:

"A seafood container export from Vietnam to the U.Due south. has more than 30 aircraft milestones and shipment information at more than 10 relevant entities with requirement of close tracking [...] existent-time data sharing at dissimilar stages by different entities in global supply chain will increment considerable efficiency for global trade flows."

TradeLens platform goes from strength to force

The TradeLens platform is quickly becoming the industry standard in the global aircraft industry. Adult in partnership past IBM and Maersk, the open and neutral blockchain-based platform aims to streamline labyrinthine supply chains.

Information technology is now supported past over 100 various organizations within the industry, recently adding Global Container Terminals, a North American container terminal operator, and the Thai customs say-so to its client base.

Blockchain solves cross-edge issues

Blockchain technology has been widely lauded as a remedy for issues in cross-border trade. Various shipping firms, governments and merchandise agencies have explored or are actively deploying the tech in an effort to digitize customs processes and enable existent-fourth dimension verification of certifications and aircraft info.