Would you implement a system in your business that introduced a 60,000% improvement? Yes, you read that right, I didn’t add four 0’s by mistake 😉
With the IBM TradeLens system Pacific International Lines is using the blockchain to implement real-time access to shipping information. In the trial, a shipment of oranges is being tracked and monitored in real-time allowing instant access to its progress. Prior to this, the bill of lading ( the paperwork needed at each port to identify the order) would take several days through a manual process to create and update this document.
“We are delighted with the outcome of the trial. By using the e-BL, we have seen how the entire shipment process can be simplified and made more transparent with considerable cost savings,” – Tay Khiam Back, CEO and chairman of Hupco, the oranges importer involved in this trial.
“A blockchain-based trade network will be a game-changer”- IBM Asia Pacific CEO and chairman Harriet Green