1st Ever Blockchain-Based Bill of Lading
The blockchain-based Bill of Lading developed by CargoX preserves all of the legacy features of paper B/Ls and takes them a step further with the benefits offered by the decentralised platform, including security, cost reduction, and fast delivery.
Why a Blockchain-Based Bill of Lading?
Blockchain is a matter of Trust.
Blockchain has no central storage that can be attacked by hackers. Global Trade's most important document is encrypted and securely written on the blockchain network, accessible only via traders' private keys.
Ultra Fast Delivery
Smart B/Ls™ are issued instantly and are immediately available to the exporter. When agreed upon conditions are met, the Smart B/L™ is transferred to the legal owner of goods – instantly, with no couriers in the middle.
Just like sending an email.
The Smart B/L’s™ fast delivery minimalize the possibility of detention, demurrage and storage charges due to the instant transfer of ownership.
Cost Reduction of B/L Transfer
Each paper B/L changes hands at least three times, with couriers making it extremely expensive and slow. The average cost to send a B/L three times is around $100. Our solution saves shippers and consignees up to 100% of their courier and postal costs.
Implementing Smart B/L translates into instant growth of positive working capital
The blockchain-based Smart B/L™ does absolutely everything that a paper one does, but with a huge difference: it is completely eco-friendly, and it lets forests around the globe continue to thrive. With less printing and no transportation, everyone wins, especially our planet.
Tracking & Storing
Every transaction is traceable. The sequence of events is clearly defined and forever written on the blockchain. Your Smart B/L™ is securely stored in an immutable database.
Who Can Benefit From Using Smart B/L™?
- Forwarders / NVOCCs
- Shipping Lines / Carriers
- Exporters / Importers
- Ecosystem providing solutions for logistics & supply chains
- Forwarder Alliances / Networks
- All companies where sending important documents is part of their workflow
Paper B/L vs Smart B/L™
|TraditionalPaper B/L||Smart B/L™|
|Change of ownership||by sending original B/L||Instant, from dApp|
|Time in transit||5-10 days||Instant|
|Can be stolen||Yes||No|
|Can be lost||Yes||No|
|Archiving||Expensive paper storage||Included|
|Cargo information (location, temperature,etc)||No||Yes|
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