• Sat, 24 Aug 2019, 09:22 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

IBM, Azerbaijan's customs committee to use blockchain for cargo transportation

Thu, 13 Jun 2019, 02:49 am UTC

IBM Corporation and Azerbaijan’s State Customs Committee will team up to bring blockchain technology to its customs procedures, according to media outlet Trend News Agency.

The deal will reportedly see the two parties sign a memorandum, with plans to incorporate blockchain technology in cargo transportation.

The news was revealed by the chairman of the committee Safar Mehdiyev during a press conference at IT/TI Conference and Exhibition of the World Customs Organization.

It will be possible to obtain the necessary information from the database online, without outside interference,” Mehdiyev said, noting that the technology will help both entrepreneurs and customs authorities provide quality customs services.

Cointelegraph noted that the latest initiative may be a part of a reported deal of IBM and the Central Bank of Azerbaijan last October 2018 that aims to see implement blockchain in different areas within a 5-year plan.

The use of blockchain in customs and shipping procedures appears to become a source of interest even by companies. Just recently Mediterranean Shipping Co. (MSC) and CMA CGM, two of the world’s biggest container shipping firms, are set to join TradeLens, the blockchain-based digital shipping platform developed by Maersk and IBM.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,091.50 (-3.03%)
  • Ethereum (ETH) $189.59 (-2.24%)
  • XRP (XRP) $0.269800 (-2.23%)
  • Bitcoin Cash (BCH) $305.88 (-2.24%)
  • Litecoin (LTC) $73.37 (-2.33%)
  • Bitcoin (BTC) $10,091.50 (-3.03%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft