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Mandarins on the Blockchain: on-time delivery to Singapore for Chinese new year

the Pacific International Lines was able to successfully send a shipment of 28 tons of mandarins from Singapore to China – electronic bill of lading included.

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Mandarins on the Blockchain: on-time delivery to Singapore for Chinese new year
the Pacific International Lines was able to successfully send a shipment of 28 tons of mandarins from Singapore to China – electronic bill of lading included. The pilot experiment was carried out on the Blockchain platform from IBM.

Brigitte Bernhardt
4. February 2019BTC$3.464,15 -0.12%part Facebook Twitter LinkedIn xing mail

The Pacific International Lines (PIL), one of the largest shipping companies in South East Asia, has in a with IBM conducted a pilot project in the combination of electronic bills of lading and Blockchain technology is tested. Time and cost savings, as well as the reduction of potential fraud could be demonstrated on the basis of a shipment of 3,000 boxes of fresh mandarins impressive. As a Symbol of prosperity and success tangerines play in the new year celebrations in Asia, an important role. They are exchanged to bring luck gifts throughout the house in bowls arranged, and during the festivities consumed.

Fast delivery, and lower costs

perishable Goods, such as these citrus to transport fruits, need a company for shipping a fast document processing, and a rapid charge release. Currently, such a delivery could take up to seven days. The main reason for the lengthy processes involved in the Transfer of the shipping documents. Through the use of e-BLs (electronic Bills of Lading) on the Blockchain the Transfer of the title deed in the pilot project, the seconds could be done quickly. The conventional resolution attempts is also susceptible to fraud. The pilot project showed that, thanks to block chain-based, electronic cargo more transparent letters, more secure, and seam let loose documentation paths-create it. The concrete benefits for the participating company, IBM, in a Statement from the 31. January 2019:

lower operating costs such as electricity costs (fee for refrigerated cargo containers in the port), storage cost (at port) and cost savings through improved equipment utilization for greater transparency of the origin and real-time visibility of documents, both transparently to the user, as well as tamper-proof.more security by preventing document fraud, the 40 % of all cases of fraud to the lake accounts for

Like BTC-ECHO in a contribution of 15. January 2019 pointed out, are roughly handled 90 percent of world trade via container ships. The potential for far-reaching Blockchain adaptations is enormous.

Read also: turbulence in the case of Huobi: bear market brings Bitcoin-exchange-in distress

Blockchain as a solution for a transparent supply chains

IBM is working intensively, the Blockchain technology for the company. In addition to supply chains and retail numerous Blockchain, since 2016-applications in financial services, government, digital rights management, and health care implemented. More transparency in the supply chains, and also promises a Blockchain project in connection with the trade of minerals from Congo, BTC-ECHO reported.

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