ZIM has signed up for the Maersk iBM TradeLens blockchain initiative, but will continue to roll out the WAVE platform for e Bills of lading
ZIM Integrated Shipping Services has signed on as a member of TradeLens, the blockchain-enabled digital shipping solution jointly developed by A.P. Moller - Maersk and IBM.
TradeLens uses blockchain technology to share shipping documents and transaction data between trusted parties using IBM’s HyperLedger private blockchain. At the same time that Maersk and IBM have been developing TradeLens, ZIM has been working on its own blockchain project with WAVE Inc to develop blockchain for transferring bills of lading, and it now offers a blockchain service to customers in some trade lanes.
Eyal Ben Amram, ZIM CIO said: “We are very pleased to join TradeLens, as part of our vision to be at the forefront of digital innovation in shipping. ZIM endorses a proactive approach of promoting and investing in innovative digital solutions, such as the pioneering blockchain-based electronic Bill of Lading initiative, in collaboration with Wave Inc, and the recent investment in Ladingo, a ground-breaking e-commerce solution”.
ZIM confirmed to WorldCargo News that it will continue to roll out the WAVE platform for e bills of lading as well as joining with Maersk in TradeLens. A spokesperson said the two blockchains are not incompatible. “On the contrary, we believe that these two platforms will work in synchronization in the future and have started involving other industry stakeholders for the exchange of knowledge and the creation of industry standards”.
It is early days yet, but ZIM’s move highlights that “blockchain” for container shipping does not need to be a single vendor system that encompasses the whole industry.
IBM and Maersk welcomed ZIM getting onboard. “ZIM will bring a strong ethos of digital innovation to the TradeLens ecosystem and we’re thrilled to welcome their team. TradeLens has made great progress in bringing transformation to traditional shipping processes through technology that enables greater transparency and efficiency,” said Mike White, TradeLens leader for Maersk. “What makes the solution so effective is its ability to deliver these benefits while still allowing carriers like ZIM and others to maintain their competitive advantages. The more carriers and other ecosystem members that join the platform, the closer we come to bringing about a new era in global trade.”
“The addition of ZIM to TradeLens shows exactly why we worked with Maersk to create this solution,” said Daniel Melka, Country General Manager, IBM Israel. “Blockchain networks like TradeLens work best when comprised of a diverse network of participants who work together to affect change for an entire industry, which is what we are seeing happen with TradeLens.”
ZIM added that more than five million shipments have been recorded on TradeLens to date by more than 60 network members and 100 total ecosystem members. ZIM expects to begin contributing data to the platform before the end of 3Q 2019.