A digital revolution is sweeping the maritime shipping industry, and it’s bringing blockchain along for the ride. That change is long overdue, according to a report released on September 10 by the Inmarsat Research Programme, a division of the satellite communications company. Despite the estimate that it is a $4 trillion industry, maritime shipping has largely been untouched by the internet revolution, said Nick Chubb and Leonardo Zangaro, authors of “How Startups are Driving the Next Generation of Maritime Trade.”
With the addition of two new container shipping lines, IBM’s blockchain-based TradeLens consortium now accounts for nearly half of the world’s shipping.
Forbes on Tuesday announced its inaugural Forbes 50 list of large companies leading the way in developing and using blockchain technology. The list has a notable lack of “pure” blockchain firms. In fact, there are just three—blockchain hardware and software maker Bitfury, cryptocurrency exchange Coinbase, and financial blockchain developer Ripple.