What is happening: Pacific International Lines have used a shipment of oranges to demonstrate the effectiveness of IBM’s blockchain platform.
Oranges: 28 tons of mandarin oranges, a popular Chinese New Year gift, were shipped using the blockchain technology.
Bill: The process used an electronic bill of lading, which effectively transfers through multiple authorities in an instant, cutting down on processing time for paper documents.
Positives: This type of demonstration can prove whether a blockchain is a natural fit for the supply chain in question. Using more efficient billing and cutting down on wasted processing time can be particularly effective in food shipments, as time is of the essence with perishable goods.
What did Chairman/CEO of Hupco say: “By using the e-BL [electronic bill of lading], we have seen how the entire shipment process can be simplified and made more transparent with considerable cost savings.”