ZIM, the largest Israeli container shipping company has announced plans to move to the next stage of their pilot project which revolves around blockchain-based paperless Bills of Lading. The initial project was announced in November 2017.
The pilot project was tested in cooperation with Sparx Logistics and Wave and has been deemed successful. Now ZIM has decided to evaluate their platform in different trade routes and with more customers. The results of the pilot are promising, as it has shown that the transactions on blockchain can replace paper and also improve efficiency, as currently many activities rely on emails, fax, and other tools.
According to the ZIM
announcement in two recent test transactions original Bills of Lading were transferred to the recipient in under two hours from the vessel’s departure, a process that usually takes days or even weeks. Complete documentation transfer, including ownership transfers and endorsements, was performed using the blockchain-based platform.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
