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IBM, Pacific International Lines Complete Blockchain Shipping Trial With Oranges


The shipment from China to Singapore was chosen in the run-up to lunar new year, IBM says.

IBM is continuing its foray into blockchain trade management, completing a new trial which shipped 108,000 mandarin oranges to Singapore, a press release confirmed on Jan. 31.

IBM, which is focusing on speeding up efficiency in multiple trade environments, used the technology to reduce paperwork handling and costs for the shipment, which originated in China.

Singapore is importing a significant quantity of mandarins ahead of the lunar new year.

Transit was handled by Pacific International Lines (PIL) using an electronic version of the Bill of Lading (e-BL), an essential trade document, processed on the blockchain.

“A blockchain-based trade network will be a game-changer, and we have a great opportunity here with our partner PIL to revolutionize the documentation processes in a way that benefits the entire…



Read Full Story : Cointelegraph.com News

2019-02-01 08:16:00

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