Arab Bank and FIATA, CargoX, eDoxOnline testing transfer of electronic FIATA BL #eFBL
Sept. 20, 2022, 10 a.m.
Arab Bank, together with FIATA, CargoX and eDoxOnline have launched a Proof of Concept which will test the transfer of an eFBL between two customers of the bank, using different eBL platforms, with the Bank as an intermediary, providing a secure environment to transfer the document together with the title of the goods. The eFBL, represented as an NFT (Non-Fungible Token) will be transferred from the eWallet of the seller to the eWallet of the buyer, triggering the payment automatically.
This is a first, but major step in a series of efforts needed to create the ecosystem that will enable a fully digital supply chain. The final phase of the POC, with a full test transaction, is planned to take place in mid-October.
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