Transparency is assured with blockchain tech jointly developed by Maersk & IBM
Bengaluru, NFAPost: India’s leading digital freight forwarding start-up Freightwalla announced joining hands with TradeLens – a blockchain-enabled digital supply chain solution jointly developed by Maersk and IBM.
The partnership will enable Freightwalla’s online platform to provide unparalleled visibility and connectivity for shipper’s international shipments. The announcement comes just days after the company announced Maersk’s Spot rate API integration on its digital platform.
Improving transparency, traceability, and rapid response mechanism has been a significant concern for the shipping and logistics industry. With robust end-to-end connectivity of all stakeholders with the blockchain technology, the partnership will strengthen the overall supply chain transparency. The association will further fast-track the digitization revolution in the industry.
Speaking on the occasion, Freightwalla Co-Founder & CTO Punit Java said as a digital freight forwarder, the company’s mission is to improve transparency and reduce costs for our partners and customers.
“Freightwalla getting on board the TradeLens platform will enable seamless connectivity between all stakeholders in the logistics ecosystem, including transporters, shipping lines, ports, and financial institutions. It will enable shippers to get full visibility into their shipments and reduce the overall cost of logistics,” said Punit Java.
The company has developed its own digital freight forwarding app for the EXIM fraternity and plans to link it with TradeLens, providing its customers unparalleled transparency and visibility while shipping internationally.
Punit Java, who also heads the development of Freightwalla’s digital freight forwarding platform, believes that TradeLens will help reduce the operational overheads and errors by enabling the automation of significant parts of the operational process.
Freightwalla has been rapidly working towards educating the Indian traders about the benefits of digitalization, a much-needed transformation that is finally happening for the maritime industry. It has been working closely with the industry committees and the Indian government to help discuss and put better policies in place for logistics players and stakeholders.
It recently hosted a discussion over a webinar with Piyush Goyal, Minister of Railways, Minister of Commerce and Industry to discuss the on-going challenges the industry is facing due to the Covid outbreak.
The TradeLens platform has been jointly developed by IBM & Maersk after it was officially announced in August 2018. The platform publishes more than 2 million events per day, and the ecosystem includes more than 175 unique organizations.
Bimal Kanal, who heads TradeLens in South Asia, mentioned TradeLens is an industry-wide neutral platform aiming at digitalising supply chains and the logistics industries.
“We aim to bring as many stakeholders involved in the logistics sector as possible onto the platform and create an efficient, digital ecosystem that will drive benefits to one and all. Freightwalla’s moves towards digital transformation are helping shippers to a great extent, and by joining the TradeLens platform, they are further accelerating this digital journey,” said Bimal Kanal.
Freightwalla joining TradeLens will help its customers and thus take the Indian maritime industry a step closer towards its long-overdue digital transformation. Not to mention, for a country with trade volumes as high as India, digitalization will help reduce friction and promote transparent global trade.
Headquartered in Mumbai, Freightwalla is India’s fastest growing technology enabled freight forwarding start-up. The company focuses on bringing increased value and transparency to international shippers by empowering them with state-of-the-art technology and tools to better organise and monitor their logistics online through its platform freightwalla.com
The TradeLens platform has been jointly developed by Maersk and IBM. TradeLens is 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.
