Global Container Terminals Inc. (GCT) has joined the TradeLens supply chain platform in an effort to securely connect with supply chain partners including ocean carriers, beneficial cargo owners, and railways through blockchain technology. TradeLens project is a technological solution developed by IBM and Maersk that has expanded to include five of the world’s top six ocean carriers. The program will be rolled out in phases at all four of GCT’s terminals adding visibility to the east and west coasts of North America.
According to the data collected by the system itself, the use of TradeLens allows to reduce the transit time of a shipment by 40%, which represents an important economic saving. The developers of TradeLens have indicated that the information contained in this system grows at the rate of one million daily data shipments, surpassing EDI systems used in the common way, in addition to avoid the use of emails, messaging and fax services.