According to a recent press release by the company, together with APMEN Trade Tech. Corporation, Ideanomics aims to leverage blockchain and what it calls “super artificial intelligence” to chop out “layers of middlemen” in port clearance and shipping handling for the Asia-Pacific Economic Cooperation’s [APEC] on-line port clearance system.
The first instigation of the tools could take place in 2 major Chinese ports namely Shanghai and Guangzhou ports, which hold the title of the world’s busiest port in 2017.
The move marks the continuation of a growing trend within the blockchain sector, with a raft of major firms about to disrupt with the aim to offer chain infrastructure with the technology’s introduction.
As per the press relase concerning the Ideanomics and APMEN Tech. Corporation Trade deed of partnership, the Co-CEO of Ideanomics ‘Bruno Wu,’ mentioned that:
“We can integrate business information from several partners, establishing a risk management model in cooperation with one window to produce risk management services for restrictive authorities and enterprises.”
Ideanomics would be having a share stake of around 60% within the new venture, promising it’ll list on an associate unknown Chinese stock market exchange before this year ends, the press release mentioned.
As the trade expands, several sources have recently become skeptical of blockchain supply chain potency, cautioning the hype that will be related to the development phenomenon.
The CEO of Tradeshift ‘Christian Lanng’ while speaking at the [World Economic Forum] held in China last week even went on saying that the blockchain wasn’t appropriately high performance in its current state to suit such purposes at scale.
Adding further he said:
“Whenever individuals say blockchain, i feel what they are actually asking is that they would really like to connect things digitally.”