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ARTICLE · 20 AUGUST 2018

Blockchain Developments For Shipping, Food, Pharmaceuticals And Diamonds

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This week, a major global technology firm and the world's largest shipping company announced TradeLens, a blockchain-enabled shipping solution and "joint collaboration" between the two companies.

United StatesTechnology
Jonathan Blattmachr
Jonathan Blattmachr
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Co-authored by Diana J. Stern

This week, a major global technology firm and the world's largest shipping company announced TradeLens, a blockchain-enabled shipping solution and "joint collaboration" between the two companies. Built on Hyperledger, the system has reportedly captured more than 150 million shipping events worldwide. The companies assert TradeLens will allow shippers to cut middlemen from the supply chain, saving customers up to 40 percent on shipping costs. With 92 firms already signed up (representing some 20 percent of the global supply chain's market share), TradeLens expects to have a commercially available platform by year end.

In developments related to food supply chain solutions, Wyoming ranchers are working on a blockchain solution to track their beef's provenance, with the hope that consumers will pay a premium for beef with verified origins. Additionally, Nestlé recently announced that it is testing whether fruits and vegetables used in

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