World’s first transaction between different eBL platforms successfully executed
An unprecedented global trade event concluded on October 25, 2022, at 21:23 CST as interoperability between different electronic bill of lading (eBL) platforms was successfully reached between CargoX and edoxOnline, two leading eBL solutions powered by blockchain technology.
An eBL is a digital version of a traditional paper bill of lading, a document used in transporting goods by sea, air, or land. An eBL typically contains the same information as a paper bill of lading, including details about the shipper, the consignee, the goods being transported, and the terms and conditions of the shipment. The main difference between an eBL and a paper bill of lading is that the former is created and stored electronically, using computer systems and networks, rather than printed on paper.
The interoperability proved successful as it enabled a secure, rapid and efficient transfer of title documents between parties using different eBL platforms, unleashing powerful velocity and efficiency for global trade and the entire shipping industry.
A snapshot of the end-to-end digital transfer process, completed in 6 minutes:
25.10.2022 at 21:17 CET - eBL created by the shipping line (on CargoX)
25.10.2022 at 21:18 CET - eBL transferred to the shipper (on edoxOnline)
25.10.2022 at 21:23 CET - eBL transferred to the consignee (on edoxOnline)
25.10.2022 at 21:23 CET - eBL surrendered to the shipping line (on CargoX)
"We are proud to be part of this first-in-history interoperability launch between eBL platforms. Distributed global computing solutions have emerged as an alternative to centralized systems. It is only logical that eBL platforms provide interoperability between them to avoid centralization and market manipulation. We support standards-driven interoperability, and we firmly believe this is good for all economic operators and governmental entities participating in global trade," said Stefan Kukman, founder and CEO of CargoX, a blockchain document transfer solution provider.
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