BLACKSBURG, Va., Sept. 10, 2019 /PRNewswire/ -- Digital Bazaar (https://digitalbazaar.com/) and TradeLens (https://www.tradelens.com/) recently announced a strategic collaboration to help facilitate and implement an array of digital ID solutions intended for wide use across the supply chain industry. TradeLens is a digital platform jointly developed by Maersk and IBM that empowers businesses and authorities along the supply chain with a single, secure source of shipping data. Utilizing Organizational Identity automation pioneered by Digital Bazaar, both TradeLens and Digital Bazaar are poised to improve collaboration via the use of blockchain-based secure identity proofing and data sharing technology.
"With TradeLens, we aim to reduce friction of trade and global logistics," said Nis Jespersen, Lead Architect for TradeLens. "Identity and role management is an essential challenge to support this ambition, and we are always on the lookout for new ways to achieve it. Participating in the Organizational Identity Proof of Concept has been a true eye-opener of how emerging standards and technologies should be embraced within our own solution."
TradeLens was created to form a transparent, secure and immutable record of shipping transactions, enabling participants to connect, share information, and collaborate across the shipping supply-chain ecosystem. Members of TradeLens are afforded a comprehensive view of all permissioned data, digitally collaborating as cargo is shipped around the globe. TradeLens offers verifiable credentials that enable supply-chain automation while keeping proprietary data secured.
Within a hub created for shipment tracking and shipment documentation, all information associated with each shipping container is encrypted and easily shared with the appropriate parties. This provides a single, secure platform for the entire ocean shipping industry and enables real-time verification of trade documents that virtually eliminates outdated paper-based processes. TradeLens has obtained commitments from supply chain providers around the world including several of the largest ocean carriers including CMA CGM, Mediterranean Shipping Company (MSC), Hapag-Lloyd, and Ocean Network Express (ONE).
"Global commerce is both connected and complex. Confidently and securely consuming identity credentials issued by third parties is key to enabling global scale interoperable identity management," said Nis Jespersen. "And managing your own data graph of credentials is a mind-boggling way of understanding your relationship to the world around you. But doing so decentrally, through the application of Digital Bazaar's technology and our platform, gives one complete control of their identity. We've found that identity management has never before been this easy and intuitive."
"We are excited to have TradeLens, an industry leading blockchain platform for ocean shipping, as part of this proof of concept, focusing on interoperability with our identity blockchain and verifiable credentials solutions," said Manu Sporny, CEO of Digital Bazaar. "Blockchain technology shows enormous promise, but it is projects like this one that enable the participants to capture the true value of the technology to make it real and pervasive across industry."
Organizations that would like to participate are urged to contact Digital Bazaar, who is coordinating the next phases of the project with a broad set of stakeholders focused on cross-wallet and cross-blockchain interoperability.
The TradeLens platform has been jointly developed by Maersk GTD and IBM. TradeLens in an open and neutral industry platform underpinned by blockchain technology, supported by major players across the global shipping industry. The platform promotes the efficient, transparent and secure exchange of information in order to foster greater collaboration and trust across the global supply chain. Learn more at: www.TradeLens.com.
About Digital Bazaar
Leaders in the creation of open payments, blockchain, digital identity, and credentialing solutions, Digital Bazaar builds technology and global standards that increase data confidence, security, and privacy for consumers, businesses, and governments. With multiple DHS funding awards and industry accolades, like the 2019 Most Significant Government Impact Award conferred at the Cybersecurity Showcase in Washington D.C., Digital Bazaar's groundbreaking solutions have been deployed by industry leaders and federal governments. Learn more at: www.digitalbazaar.com.
Adam Lake, Business Development Lead
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