July 23, 2024
Chicago 12, Melborne City, USA
Blockchain News

Sri Lanka Container Terminal Joins Blockchain Platform

A Sri Lankan container terminal has recently joined oined IBM and Maersk’s blockchain trade platform TradeLens. The South Asia Gateway Terminals is the first in the island nation to include the blockchain technology and go digital.

Maersk said that the collaboration will help SAGT grow better. SAGT is an important link in conducting global trade and it annually processes more than two million twenty-foot containers.

The terminal will now be able to help shippers, shipping pipelines and ports as it will bring more transparency into container flows. Bimal Kanal, Head of TradeLens, South Asia spoke about his aim with the stakeholders.

“Our ambition is to have all stakeholders including shippers, shipping lines, ports, banks, custom authorities and so on, involved in the global supply chain to be on a common platform that will benefit the entire industry.”

The TradeLens has grown leaps and bounds in the recent years. It has signed up with major port operators, container terminals and continues to grow in its business.

Cointelegraph reported that the largest multi-port operator of India, Adani Ports and Special Economic Zone Limited joined the TradeLens platform in May this year. In January, Oman’s largest port Port of Salalah had joined TradeLens.