India’s maritime industry is looking to utilize the CargoX platform for Blockchain Document Transfer (BDT).
On June 11 World Cargo News reported that CargoX has integrated its BDT into the Indian Port Community System (PCS), a subsidiary of the Indian Ports Association.
It is aimed at digitizing India’s maritime infrastructure.
India is digitalizing their trade documentation workflows – the maker of their Port Community System, @Portall_Info, has partnered with CargoX for Blockchain Document Transfer (BDT) for #billoflading and other #tradedocuments #blockchain https://t.co/zZ41OMt0tw pic.twitter.com/V8fWuDXjSJ — CargoX (@CargoXio) June 11, 2020
Portall Infosystems (company that developed PCS) along with global shipping companies successfully tested the CargoX platform for transferring electronic bills of lading.
Proofs-of-concept was run to ensure the system’s compliance with the Indian Ministry of Shipping’s digitization initiative.
CargoX stated that the tests were conducted for “various use-case scenarios, including breakbulk and container shipments, export, and import from and into India.”
PCS is currently integrated at 19 major and minor ports across India that have more than 16,000 corporate stakeholders.
The integration of CargoX with the PCS will allow the stakeholders to electronically manage the bills of lading along with other shipment documents.
Thereby reducing time and cost consumption in the process.
The COVID-19 pandemic has only made more companies to digitize their workflow as the traditional systems failed to deliver due to social distancing practices.
In May, India’s Adani Ports and Special Economic Zone Limited partnered with TradeLens to utilize its blockchain-based supply chain solutions.
Source: Cointelegraph | Image: Unsplash
Comments