Cryptocurrencies
Blockchain Is About to Revolutionize the Shipping Industry
- Maersk, APL, Hyundai race to build paperless cargo system
- Adoption of blockchain could generate $1 trillion in trade
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Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents.
That last throwback to 19th century trade is about to fall. A.P. Moeller-Maersk A/S and other container shipping lines have teamed up with technology companies to upgrade the world’s most complex logistics network.