Introducing CargoX Smart B/L Blockchain-Based Bill of Lading (B/L) Documents for Global Trade
CargoX is reshaping the global logistics industry by introducing Smart B/L documents based on blockchain technology, replacing old-style paper Bill of Lading documents. With the Smart B/L users will be able to state and transfer cargo ownership rights without the hassle of handling paper.
Blockchain and Smart Contracts are made for this industry.
Reshaping the Shipping Industry
With Smart B/L on the blockchain there will be no need for paper Bill of Lading anymore.
Bill of Lading Fact Sheet
From the Past to the Future
A Bill of Lading is issued for sea-freight shipments and it gives the holder of this document the ownership rights to the cargo.
Using express courier services, it usually takes 5 to 10 days and it costs around $100 to get this document from origin to destination. By using Smart B/L, which is a blockchain-based token, we cut down the time and costs needed for B/L transfers. By sending tokens on the blockchain you can easily and securely change the ownership from Exporter to Importer which makes the Smart B/L tokens the perfect tool for claiming the ownership rights to the cargo.
Smart B/L is built on top of the blockchain’s capability to transfer digital value in an open and decentralised way, bringing this to the paper-plagued world of Global Trade.
This greatly reduces the time and costs associated with handling paper-based Bill of Lading documents, saving millions of dollars and reducing the burden on our environment.
|TraditionalPaper B/L||Smart B/L|
|B/L fee (USD)||from 35 - 100||as low as 10|
|Sending costs (USD)||average 100||0|
|Change of ownership||by sending original B/L||Instant, from dApp|
|Time in transit||5-10 days||Instant|
|Can be stolen||Yes||No|
|Can be lost||Yes||No|
|Archiving||Expensive paper storage||Included|
|Cargo information (location, temperature,etc)||No||Yes|
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