Pacific International Lines (PIL) has used an electronic Bill of Lading (e-BL) built on the IBM Blockchain Platform in a real-time pilot tracking shipment of mandarin oranges from China for the Lunar New Year celebrations.
With the use of IBM Blockchain powered e-BL, the trial has produced a significant reduction in the administrative process of transferring the title deed from five to seven days to just one second, claimed the parties.
The Bill of Lading is one of the most crucial documents used in international trade, typically issued by a shipping carrier to document the title or ownership of goods. It also functions as a receipt of goods and a contract of the shipment.
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