TORONTO – Livingston International Inc. is taking part in a blockchain-enabled global shipping initiative that is being tested in a pilot involving the Canada Border Services Agency (CBSA).
TradeLens is a blockchain-enabled digital shipping solution jointly developed by A.P. Moller–Maersk and IBM to promote more efficient and secure global trade. It is designed to limit errors in logistics, therefore improving transit times, mitigating risk and reducing instances of fraud.
Livingston will serve as the first Customs broker to leverage the TradeLens platform for brokerage automation. Livingston’s role in the pilot will be to enter and access information on shipments and streamline internal procedures without compromising accuracy or security.
The CBSA is participating in the TradeLens pilot to determine what role the platform could play in its business processes.
Livingston has invested heavily in automation and disruptive technologies to provide more enhanced, transparent and reliable solutions for businesses around the world.
“We’re thrilled to see that Livingston has joined in the pilot of the TradeLens platform. As a leader in Customs brokerage services, Livingston is now positioned to pioneer the use of blockchain technology and shape its impact to shippers around the world,” said Mike White, CEO of Maersk Global Trade Digitization and head of TradeLens.
The pilot will serve to determine how blockchain can optimize the speed and quality of Customs and commercial data, while offering greater transparency into how cargo moves and streamlining the decision-making process for shipment release.
“The most important aspect of the platform is the ecosystem – building trust to enable collaboration with one another through a model that benefits everyone. Livingston’s participation in this initiative allows us to analyze the impact of blockchain on the logistics process by bringing in the role of customs administration, which involves the submission, examination and storage of reams of data on a daily basis,” said Peter Patterson, IBM Canada’s blockchain leader.