The Canada Border Services Agency and the Port of Montreal have signed on with the blockchain technology developed by IBM and Maersk to streamline freight shipping.
With five container terminals, the Port of Montreal is eastern Canada’s largest container port, according to a joint press release. TradeLens, as the IBM-Maersk blockchain is known, will allow the port “to enhance its business intelligence for better resource planning based on inbound traffic with upstream visibility.”
“We believe blockchain can play an integral role in digitizing and reinventing shipping for organizations like the Port of Montreal, [which is] responsible for processing over 38 metric tons of cargo annually,” Ayman Antoun, president of IBM Canada, said in the release. “TradeLens provides a common approach to building a strong, secure and connected digital shipping network that benefits all participants equally.”