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IBM & Pacific International Lines sign blockchain shipping and supply chain MOU

First Published 16th August 2017

IBM Singapore, Pacific International Lines, and PSA International sign Memorandum of Understanding to explore and trial proof of concept blockchain-based supply chain business network innovations

IBM Singapore, Pacific International Lines, and PSA International will work together to explore POCs using technologies like blockchain to improve regional supply chain business networks, as well as connect to trade finance solutions that can facilitate faster approval and fraud prevention.

Mr Randy Walker, Chairman and CEO - IBM Asia Pacific, said, "Blockchain as the foundation of an immutable, security-rich, highly auditable and transparent shared business network, offers improved transparency, data security, and workflow productivity in complex business networks. IBM will leverage the Hyperledger Fabric platform, its Supply Chain Business Network, and expertise from the IBM Center for Blockchain Innovation in Singapore to pioneer projects with the potential for widespread impact across industries in China and Southeast Asia."