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Companies flock to electronic bills of lading sparked by spike in users of the CargoX Platform

Jan. 24, 2023, 5 a.m.

(Ljubljana, Slovenia – January 24, 2023)CargoX, the leading document transfer solutions provider, today reported a massive increase in the number of users of the CargoX Platform to simplify and expedite electronic trade documents and facilitate Advance Cargo Information (ACI) processes in global supply chains. 

CargoX reports that its platform has processed more than 3,478,124 electronic trade documents. Over 99% of those documents were shipping documents, showing the need for progress of both electronic B/L and blockchain trade documents between parties using different eB/L platforms, unleashing powerful velocity and efficiency for global trade and the entire shipping industry.

The number of companies using CargoX’s blockchain technology for document transfer has grown exponentially since 2018, with January 2023 numbers indicating 100,148 registered companies with 124,848 users.

McKinsey and Company recently completed a study on trade digitalization, concluding that eB/Ls could save US$6.5 billion in direct costs while supporting global trade growth by up to US$40 billion through more streamlined trade documentation, a paper-intensive and resource-consuming process.

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