IBM, Maersk in blockchain tie-up for shipping industry

Big on blockchain: IBM and Maersk's solution would help manage and track the paper trail of tens of millions of shipping containers globally by digitising the supply chain process from end to end.

NEW YORK: IBM and Danish transport company Maersk said they were working together to digitise, manage, and track shipping transactions using blockchain technology.

The technology, which powers the digital currency bitcoin, enables data sharing across a network of individual computers. It has gained worldwide popularity due to its usefulness in recording and keeping track of assets or transactions across all industries.