Today, cross-border trade platform Global eTrade Services (GeTS) announced the onboarding of supply chain logistics company Swivel Software on its blockchain platform. This enables the traders, freight forwarders, brokers, insurance, and financial service providers on Swivel to use GeTS’ Open Trade Blockchain (OTB).
The OTB primarily provides registration and verification of trade documents such as bills of lading, commercial invoices, insurance files, and contracts. With blockchain, the data is immutable, helping supply chain participants to audit, eliminate fraud, and verify their integrity in case of a dispute.
“Trade by nature is borderless, and by combining the inherent reliability of Blockchain, we are able to bring users from over 30 countries to transform and improve their supply chain, speed up processes and boost efficiency,” said Eugene Wong, Chairman of GeTS.
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