IBM and shipping firm Pacific International Lines (PIL) used blockchain technology to track and document transfer of ownership for shipment of mandarin oranges from China to Singapore

Briefing

IBM and shipping firm Pacific International Lines (PIL) used blockchain technology to track and document transfer of ownership for shipment of mandarin oranges from China to Singapore

February 20, 2019

Briefing

  • Blockchain Trading System – IBM and shipping company Pacific International Lines (PIL) recently tracked transit of mandarin oranges from China to Singapore using electronic Bill of Lading (e-BL) system on IBM's blockchain
  • 3,000 Cartons – Trial was for shipment of 3,000 cartons of mandarin oranges (approximately 108,000 mandarin oranges), weighing 28 tons, to Singaporean importer Hupco Pte Ltd.
  • Bill of Lading – Document indicating transfer of ownership of goods that used to be mailed from one party to another, risking fraud and inefficiencies in system
  • Faster Documentation – Reduced process of transferring title of ownership of shipment of mandarin oranges from PIL to Hupco from five-to-seven days down to one second
  • Benefits – Include faster shipments and documentation, lower operating costs, real-time tracking of goods, greater security and reduced fraud

Accelerator

Market Disruption

Business Model and Practices

Business Model
and Practices

Sector

Transportation and Logistics

Function

Supply Chain and Logistics

Organization

Hupco Pte Ltd., International Business Machines Corp., Pacific International Lines (PIL)

Source

Original Publication Date

January 31, 2019

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