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.

More In Business

Federal Reserve Announces Its Decision on Interest Rates

Powell announced that the Fed will keep the interest rate at their current level of 5.25-5.5 percent, their highest for nearly 20 years.

Worried About Summer Gas Prices? Buy Energy Stocks

You could turn pain at the pump into a financial bump if you buy the dip on energy stocks, one analyst says.

With High Mortgage Rates, Is It Time to Consider a Tiny Home?

For most, buying a home is a far-reaching goal. With high mortgage rates and low inventory, it may be time to get creative and consider a tiny home.

Florida’s 6-Week Abortion Ban Takes Effect

The rules are affecting not just women who want therapeutic abortions, but also nonviable pregnancies for women who want to have babies.

Tom Brady’s Company, Autograph, Wants You To Engage With Your Favorite Athlete...Including the GOAT

Autograph revolutionizes fandom, allowing fans to engage with their favorite celebrities through digital collectibles, experiences, and rewards.

The Breakthrough Skin Cancer Vaccine That’s Changing the Game

A “cure for cancer” might be too ambitious, but recent results in skin cancer vaccine trials are injecting hope into the battle against it.

Sure, it's Not Exactly Fun, But Here's Why Financial Planning is So Important

Cetera Holdings CEO Mike Durbin sits down with Cheddar to discuss the important of financial planning, investment strategy and the state of today's market.

US GDP Growth (Or Lack Thereof): Why Were the Figures So Low?

The U.S. GDP dropped in 2024. Here's what that means for you.

Inside the Surge of Sports Team Valuations and Emerging Investments

Wealthy individuals and industry leaders are driving soaring sports team valuations, fueled by private equity and growing interest in leagues like the WNBA.

The Shift Towards Seamless Cross-Screen Interactions And Taylor Swift's Impact On Brand Engagement

Digitas leads in shaping consumer behavior with seamless, cross-screen interactions, featuring insights on Taylor Swift's impact

Load More