IBM and Maersk to improve trade using blockchain

Maersk shipping company and IBM announced on January 16 that they will open a company to provide more efficient methods for conducting global trade using blockchain technology
16 January 2018   982

IBM, American multinational technology company headquartered in New York, and Maersk, the world's largest container shipping company, known for reliable, flexible and eco-efficient services, have announced their partnership on January 16, 2018.

The aim of the partnership is to build a new company, which will develop global trade digitization platform built on open standards, designed for use by the entire global shipping ecosystem, and the one which will "address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones".

The two main goals of the new project are stated as follows:

  • A shipping information pipeline, which should provide supply chain visibility and security of information about shipment
  • Paperless Trade, which should digitize paperwork to reduce the time and cost for clearance and cargo movement

Moreover, Maersk shipping company and IBM plan to establish an advisory board of industry experts to develop the platform and provide open standards.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.