CargoX starts issuing standardized paperless FIATA Bills of Lading
(Ljubljana, Slovenia - 19 May 2022) -- CargoX started issuing standardized, paperless FIATA Bills of Lading in partnership with the International Federation of Freight Forwarders Associations (FIATA).
The FIATA paperless Bill of Lading solution allows freight forwarders to issue secured paperless FBLs through their usual transportation management tools (TMS) or through independent eBL providers, of which the CargoX Platform for Blockchain Document Transfer (BDT) is one.
CargoX, traditionally at the forefront of the digitalization of global trade, is among the first companies to launch the implemented solution on the same day as FIATA. Customers of the CargoX Platform, who are also members of FIATA, can start issuing and transferring FIATA eFBL standard-compliant electronic Bills of Lading on the CargoX Platform for Blockchain Document Transfer (BDT) right away.
“Today marks a special day in the history of global trade, and for the people developing digital solutions for ocean shipping and freight forwarding. In less than four years since sending the first commercial blockchain Bill of Lading in the world on the CargoX Platform, we are happy to witness how the most powerful association of freight forwarders is adopting blockchain Bill of Lading technology,” said Stefan Kukman, founder and CEO of CargoX.
"FIATA is very excited to embark on this important milestone of its digital journey which paves the way for great opportunities for the future of freight forwarders," said FIATA Director General Stéphane Graber.
CargoX utilizing the benefits of open FIATA FBL architecture
The new standardized solution by FIATA makes document processing easier and allows FIATA members to become digital freight-forwarders. The document issuer can simply decide in which format to issue the original unaltered document – paper or PDF.
Based on its eFBL data standard, FIATA has developed the core digital FBL solution, which is open through an API service. The service is available to eBL service providers, allowing them to connect with FIATA to create secured paperless FBLs using certified information on member companies.
As of 18 May, seven software providers have already signed an agreement with the Federation to implement the solution: AKANEA, Cargowise (Wisetech Global), CargoX, eDox Online (Global Share), IST Networks, Nabu and uSyncro.
Benefits for freight forwarders
Sending electronic FIATA Bills of Lading improves the security of the FIATA BLs in comparison to the paper version, as it utilizes blockchain technology to authenticate the documents and provide an audit trail.
This will help reduce risk of fraud, as every document is recorded on an immutable ledger, so it can be verified at any time by all stakeholders interacting with the document.
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About FIATA
FIATA – International Federation of Freight Forwarders Associations is a non-governmental, membership-based organization representing freight forwarders in some 150 countries. FIATA’s membership is composed of 111 Association Members and more than 5,500 Individual Members, overall representing a global industry of 40,000 freight forwarding and logistics firms. Based in Geneva, FIATA is ‘the global voice of freight logistics’. www.fiata.org
About CargoX
CargoX revolutionized global trade by transferring the first commercial blockchain Bill of Lading in history. Today, CargoX Platform for Blockchain Document Transfer (BDT) is the fastest growing platform in logistics. It provides fast, secure, and cost-efficient documents of title, advance cargo information manifest for customs, and other important business document transfer using blockchain technology to more than 85.000 companies and agencies worldwide. The CargoX Platform is approved by IG P&I as only one of 7 digital platforms for eBL, and it is authorized as the blockchain document transfer gateway service provider to the Government of Egypt.
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