Published: 2:02pm, 26 Nov, 2018 Updated: 9:29pm, 26 Nov, 2018
Hong Kong ’s Modern Terminals has signed on to the TradeLens blockchain platform , developed by Maersk and IBM , which aims to digitise logistics data for the shipping industry . The platform , expected to launch at the end of the year , is designed to operate as a single system where shippers , freight forwarders , imports and terminal operators can see the entire supply chain in one place . Much of the documentation used in shipping is currently paper based , meaning processes are inefficient and vulnerable to fraud . TradeLens aims to tackle these issues with blockchain 's end - to - end verification .