July 27, 2018
Blockchain Bill of Lading
CargoX and the OceanX network partner-up to set new standards of excellence in the shipping trade
OceanX, the leading seafreight specialist network and CargoX have agreed on a strategic partnership, bringing the blockchain enabled Smart B/L to OceanX NVOCC members.
CargoX’ innovative platform enables the issuance and handling of original bill of ladings on an etherium blockchain encrypted platform, facilitating the digital transfer of the bill of lading and thus the related asset from issuer, to shipper, to consignee, to release agent. Thereby creating the first fully digital, paperless and secure original bill of lading solutions.
“We are excited about this partnership with CargoX; their dynamic team has come up with a solution to a historical challenge of our industry, bringing a centuries old paper process to the digital age. OceanX members and their customers will be able to benefit from the Smart B/L features, transferring titles securely online at the press of a button, with every transaction recorded in the blockchain, impossible to manipulate and stored for years. Thereby enhancing security, ending any potential for fraud, saving courier costs and paper,” said Ruben Huber, director and founder of OceanX.
“OceanX is our partner, focused on bringing new value to the cargo shipping and logistics industry, based fundamentally on complete process digitalisation. Our Smart B/L solution is just the first step we are making, as we are fully aware of the potential that blockchain technology brings to the logistics table and to international trade as a whole. We are glad to welcome OceanX, who represents those companies that can hardly wait to do away with the archaic processes and embrace digitalisation to start rapidly gaining an advantage in the business,” said Stefan Kukman, CEO and founder of CargoX.
Early adopters within OceanX are already testing the features, while other OceanX members will learn more about the CargoX facility at the launch event of OceanX this November in Dubai.
OceanX is a non – exclusive global network of leading ocean freight providers and NVOCCs dedicated to delivering bespoke innovative solutions, in particular on FCL services, LCL consolidation, dangerous goods and chemical logistics, temperature control, fashion logistics, as well as project cargo handling.
CargoX is the independent supplier of blockchain-based Smart Bill of Lading (Smart B/L) solutions that provide an extremely fast, safe, reliable, and cost-effective way to process Bills of Lading anywhere in the world. CargoX has developed a decentralised platform based on the Ethereum network, and has a pipeline of future products for the supply chain industry.
Learn more about CargoX on their website http://www.cargox.io