IBM is teaming up on blockchain with the world's largest shipping company
Advertisement
Advertisement
Advertisement
- Shares of IBM gained about 1% Tuesday morning after the computer and software giant announced a blockchain partnership with Denmark's Maersk, the world's largest shipping company.
- The two companies will create an industry-wide trading platform that could speed up the movement of goods while saving billions of dollars by eliminating the "enormous trail of paperwork and bureaucracy" that comes with international shipping, Reuters reports.
- "The big thing that is missing from this industry to digitize and unleash the potential of the technology is really to create a form of utility that brings standards across the entire ecosystem," Maersk's Chief Commercial Officer Vincent Clerc told Reuters.
- Blockchain is the technology that powers cryptocurrencies like bitcoin, and Maersk is far from the only company to see benefit from the trendy decentralized ledgers. Banks, manufacturers, and even iced tea companies have announced new focuses on blockchain - and many have seen their stocks soar in response.
- Shares of Maersk are up about 0.54% on Copenhagen's stock exchange.
EXCLUSIVE FREE REPORT:
The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »
The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »
Advertisement
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’