Should Ghana Be The First Sub-Saharan African Nation To Adopt The New Maersk-IBM Blockchain Technology For Its Ports And Harbours?

If we are to transform our nation into a prosperous society, it is vital that loopholes in the system, which result in huge sums in taxes due to the state being lost - as a result of the perversity of the crooked entrepreneurs in the import/export trade who collude with officials at the ports - are closed as quickly as practicable.

In that regard, perhaps adopting the new blockchain technology being developed by companies such as Maersk and IBM, could make a significant difference to the fortunes of the Ghana Ports and Harbours Authority - which ought therefore to take a keen interest in the collaborative efforts of those two innovative companies: and suggest to them that at the appropriate time Ghana would be a suitable sub-Saharan nation to pilot their blockchain technology at its ports and harbours to prevent revenue leakage.

As our widow's mite contribution to the nation-building effort, we have culled a piece from the website of 'Port Technology' entitled: " Port Operator Adopts Maersk-IBM Blockchain Tech", which we hope will be an eye-opener for Ghana's shipping industry and the officials who manage Ghana's ports and harbours. Ditto the many brilliant young minds who read this blog regularly.

Please read on: "Port Technology US Port Operator Adopts Maersk-IBM Blockchain Tech 18 Apr 2018 03.11pm Holt Logistics has become the first independent port operator in the northeastern United States to conduct a pilot based on a blockchain-based global trade digitization solution developed by Maersk and IBM. The solution aims to provide transparency and promote the sharing of information within the global trade ecosystem, which in turn can reduce costs, improve productivity and speed the delivery of goods shipped around the world. Holt Logistics and its affiliated company, Greenwich Terminals LLC, operate the Packer Avenue Marine Terminal in South Philadelphia.

Thomas J. Holt III, Business Development Manager for Holt Logistics, said: "The investment in the blockchain platform, albeit different from recent hard asset investments like the crane purchases and facility enhancements, is another investment in the future of the Port of Philadelphia, designed to reduce costs and significantly improve the port's ability to add value to the customer. "Our industry generates enormous amounts of paperwork and data. “We believe that blockchain technology will increase both information velocity and validity throughout the supply chain, unlocking billions of dollars in value for stakeholders each year. “We are delighted to be a first mover with Maersk and IBM in adopting this technology platform here in the Ports of Philadelphia. “This technology represents the future of our industry, and we are pleased to be a leader in putting it to work for our customers."

The IBM Blockchain technology is being developed with Maersk to allow its users to operate on a highly secure digital ledger system network, allowing them to share information and updates about cargo transparently. Maersk and IBM want to reduce the number of records produced at each point in the shipping chain to save as much as 20% on the cost of shipping transactions. Read about how Rotterdam and IBM are building the port of the future in a Port Technology technical paper Maersk and @IBM launch #blockchain joint venture to improve global #trade and digitise supply chains: https://t.co/qY44cSTbTf@IBMBlockchain @IBMLinuxOne @IBMEurope @IBMNews pic.twitter.com/moR76guQSQ — Maersk (@Maersk) January 16, 2018 Michael J. White, the head of the initiative for Maersk who will serve as CEO of the new joint venture, stated: "We welcome Holt as an early adopter to our new platform, which we believe will bring efficiencies and improvements to all participants through digitized solutions backed by blockchain and other innovative technologies.” Todd Scott, VP, Global Trade - Blockchain, IBM, commented: "As the leading enterprise blockchain vendor, IBM is working with clients in many sectors all over the world to help build blockchain applications that can transform entire business models – even entire industries. “Our work with Maersk for the global shipping industry and planned joint venture focused on using blockchain to help drive the digitization of global trade will benefit port operators such as Holt Logistics Corporation, logistics companies, customs authorities, shippers, freight forwarders, transportation companies and more."

Read more: Samsung is planning a blockchain ledger system in order to monitor billions of dollars' worth of trade Automation and Optimisation , Digitalisation, Carriers, Maersk, Global Economy/Trade, Going Places, Port Planning, Ports, Security and Logistics, Shipping Subscribe to our Newsletter We'd like to send you relevant news, technical papers and updates. We work with ports and terminals that may also send you communications. By submitting your details, you are accepting these Terms & Conditions and agreeing to our Privacy and Cookies policies. You can opt out of these communications at any time. Related News No related articles found Most Popular #CTAC2018 1-on-1: Navis' Scott Peoples - Collaboration iContainers Blog: Why Digitizing Forms 90% of Our IT Plan Heavy Fog Disrupts Shanghai Port Samsung Planning Blockchain Shipping Strategy Maersk Works with Youredi to Open its Data Doors Anxiety Builds Over COSCO Takeover Deal New PwC Report Focuses on African Port Growth Vessel Crash Leads to Mississippi River Oil Spill Bolloré Ports Puts Navis TOS in Control of Indian Terminal AI Partnership to Control World's Busiest Shipping Lanes All contents © copyright Maritime Information Services Ltd. All rights reserved. Terms & Conditions | Privacy Policy | Accessibility Back to top Share this selection Tweet Facebook." End of culled content from the website of Porttechnology.com.