In recent years, blockchain-based use cases have found significant traction within the freight industry. Blockchain’s ability to decentralize information and store it in an immutable ledger accessible by every stakeholder in the value chain can drive industry-wide collaboration and increase supply chain efficiency.
The customs department of Saudi Arabia is the latest entrant to the blockchain space, as it successfully piloted its first shipment through TradeLens, a blockchain-based platform developed collaboratively by Maersk and IBM. The shipment departed from the Saudi Arabian port of Damman, setting sail onboard the Maersk Sebarok, and reached the port of Rotterdam, from where it was put on a truck en route to its final destination in Belgium.
Read more at Benzinga.
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