G2Ocean: Blockchain to push paper Bill of Lading into retirement

May 30, 2019, 6 a.m.

(Bergen, Norway/Antwerp, Belgium - May 29 2019). In today's digital world, one would think the paper Bill of Lading was an anachronism. A recent test of the CargoX Smart B/L™, done by G2 Ocean and Manuchar NV, show it is possible to retire the paper B/L.

“Paper Bills of Lading are already considered a historic artefact. The Smart B/L™ solution gives both us and our clients the power of a modern, reliable, and efficient tool. It will bring cost optimization and improved data security into their processes. The document transaction reliability in this system is undisputable," said Rune Birkeland, CEO at G2 Ocean.

In total G2 Ocean and Manuchar have completed five separate pilot shipments, with five Smart Bills of Lading.

"G2 Ocean considers smart contracts based on distributed ledgers or blockchain as a unique opportunity to digitalize and automate manual processes between its clients and subcontractors. The Bill of Lading is one of two priority areas in 2019 using blockchain technology. Based on these successful pilots, our next step will be to scale this up and offer it’s as a value-added service to our clients,” said Leif Arne Strømmen, Vice President of Innovation G2 Ocean.

“The implementation of new technologies is essential to establish and maintain our leading position in terms of cost-efficient sourcing & supply chain solutions for our customers. We focus on technologies that go beyond the hype and deliver real benefits in terms of speed, efficiency and the quality of service. That is exactly why this successful Smart B/L pilot is such an important next step in Manuchar’s digital transformation program: it provides real value. We thank G2 Ocean and CargoX for the excellent collaboration in achieving this success”, states Bart Troubleyn, COO of Manuchar.

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