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HLPFI's Wednesday Wire - Blockchain pushing ahead in project cargo
07/26/2018
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Blockchain pushing ahead in project cargo

Digitalisation on all sides of the project cargo supply chain continues to gather momentum. Many are now promoting the development and adoption of blockchain applications and industry-wide standards.

This week Swiss freight forwarder Fracht signed a partnership agreement with CargoX, the producer of the blockchain-based Smart Bill of Lading (B/L) solution.

This lets companies issue and handle original bills of lading on the Ethereum blockchain network, thereby facilitating the digital transfer of ownership from issuer, to shipper, to consignee, to release agent.

In the September/October edition of HLPFI, we will be analysing the implementation of blockchain technologies in the project cargo supply chain and welcome your thoughts on the benefit that digitalisation might bring, such as greater transparency and security. To provide input, you can contact us at editorial@heavyliftpfi.com

Fracht partners with CargoX

Tuesday 24 July 2018

Switzerland’s Fracht Group has signed a partnership agreement with CargoX, the producer of the blockchain-based Smart Bill of Lading (B/L) solution.

 

According to Fracht, the partnership will allow Fracht to use the Smart B/L platform, which lets companies issue and handle original bills of lading on the Ethereum blockchain network.

The solution facilitates the digital transfer of the ownership of the bill of lading and the related assets from issuer, to shipper, to consignee, to release agent. This, according to Fracht, created the first fully digital, paperless and secure original bill of lading solution.

“As service providers we must be able to step into our customer’s shoes and impartially choose the best available options. We have made various tests on the use of blockchain in shipping and forwarding, and the bill of lading is exceptionally suited, being a document of value that exchanges hands and needs to be secure,” said Ruedi Reisdorf, ceo at Fracht.

www.fracht.com

cargox.io

 

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