Spain’s Port Authority Of Valencia Joins IBM-Maersk Blockchain Shipping Platform
The Port Authority of Valencia (PAV) has announced that it has integrated into the blockchain shipping platform jointly developed by tech giant IBM and Danish shipping giant Maersk.
The PAV is the public body responsible for running and managing three state-owned ports along an 80 kilometer stretch of the Mediterranean coast in Eastern Spain: Valencia, Sagunto and Gandia. The authority’s mission is to sustainably promote the external competitiveness of the business community in Valenciaport’s area of influence by providing quality, competitively-priced port, shipping, intermodal and logistics infrastructures and services which are aligned with European transport policies.
In ints announcement, the PAV said it has joined TradeLens as “Early Adopter,” which means it will contribute to the platform’s early development. The TradeLens ecosystem currently includes more than 20 port and terminal operators across the globe, which account for approximately 234 marine gateways worldwide.
Built on top of the IBM Blockchain technology, TradeLens promotes a more efficient, predictable and secure exchange of information in order to foster greater collaboration and trust across the global supply chain. It allows multiple trading partners to collaborate by establishing a single shared view of a transaction without compromising details, privacy or confidentiality. Since the its launch in August of this year, TradeLens has already processed 154 million data-sending events, including warehousing time, container shipping and customs documentation such as bill of lading and commercial invoices.
The TradeLens integration follows the PAV’s announcement last month that it will use blockchain and big data technologies to create a “smart port.” At the time, Jose Garcia de la Guía, head of new technologies of the PAV, said that by applying blockchain, the the PAV could create ports without papers that would optimize the resources globally, reduce time spent on development, and cut maintenance costs.