According to a recent report, Pacific International Lines (PIL), in collaboration with IBM has successfully completed a blockchain based real-time pilot tracking shipment of mandarin oranges from China in anticipation of the forthcoming Lunar New Year celebrations.
28-tons of Mandarin Oranges Tracked
The report shows that about 28-tons of Mandarin Oranges were tracked using the technology. According to Singapore-based Hupco which shipped the 3,000 cartons of mandarin oranges, an electronic bill of lading (e-BL) developed using IBM’s Blockchain Platform was used to process the transfer and shipment of the fresh mandarin oranges. This event is significant, mainly because it demonstrated how blockchain technology can help reduce the time and effort consumed during some administrative processes. The use of blockchain technology in this instance reduced the administrative process of transferring the title deed from five to seven days to just one second.
Perfect Solution for Perishable Goods
Normally, the Bill of Lading is issued by a shipping carrier. In it, the title or ownership of goods is documented. The Bill of Lading also functions as a receipt of goods and a contract of the shipment.
For perishable items, such as mandarin oranges, a more faster documentation processing is required. With the use of a blockchain based e-BL, the fewer perishable goods will get destroyed during transfer processes. Blockchain will also help with the automation of document handling and facilitate fast and efficient delivery of goods.
Tay Khiam Back, Chairman and CEO of Hupco said that:
“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, ” “Our customers can expect their orders in a more timely manner, and, importantly, with freshness assured.” he continued
Harriet Green, CEO and Chairman of IBM Asia Pacific also said that:
“A blockchain-based trade network will be a game-changer, and we have a great opportunity here with our partner PIL to revolutionize the documentation processes in a way that benefits the entire industry,”