IBM & Maersk Team Up to Streamline the Global Shipping Ecosystem
The $4 trillion global shipping industry is riddled with inefficiencies and is ready for digital disruption. IBM just announced it will team up with Maersk, the world's largest container shipping firm, to introduce blockchain to an antiquated industry. Ramesh Gopinath, VP of Blockchain Solutions at IBM was with us to break down how the company is digitizing global trade.
Gopinath explains the inefficiencies that IBM's blockchain solutions will improve. He says 90% of the goods used everyday are carried by the ocean shipping industry. Gopinath emphasizes that there are too many players and too many handoffs involved in the supply chain process. The other major inefficiency has to do with paperwork related to customs, he says.
IBM is looking at blockchain for secure information sharing. Gopinath stresses that the solution has nothing to do with cryptocurrencies. Although IBM is currently focused on shipping, he says every industry will use the technology because the "sweet spot" for blockchain is trusted interactions between companies.
New car owner analysis from Insurify finds drivers spend an average of $5,851 a year on insurance, gas and maintenance alone, separate from financing costs.
Oil prices are climbing again after Saudi Arabia shut down a critical pipeline that has served as a major alternative route around the Strait of Hormuz.
Ryan Hamburger, Chief Commercial Officer at Instacart, explains how Clementine uses AI to personalize grocery shopping, build carts, find deals, and save time.
