The Port of Vladivostok has become the first commercial port in Russia to join the Tradelens blockchain platform, joining of the world’s largest carriers and terminal operators to streamline trade with smart technology.
In a statement, TradeLens said the platform the Port of Vladivostok will use is being developed by GTD Solution Inc, a joint subsidiary of A.P. Moeller-Maersk (Maersk) and IBM, the two parties behind the blockchain initiative.
TradeLens optimizes transportation and tracking of goods through the exchange of data and digitized documents between cargo owners, shipping companies, customs authorities, port and terminal operators.
“We are now testing the system and transferring information about loading and discharge of cargo, berthing of vessels to the blockchain platform,” said Anton Popov, director of the IT department in Commercial Port of Vladivostok.
“After complete integration of the system, we will be able to optimize work with regulatory authorities, reduce the time required for processing documents and receive updates from the sea carrier online.”
TradeLens is designed to allow carriers and cargo owners to not only exchange transaction information in real time, but also send trade documents to each other.
Blockchain technology helps to reduce the processing time of paper documents, making it faster and easier to issue bills of lading for cargo, sanitary certificates, invoices for payment and other types of documentation.