The CargoX platform for blockchain document transfer (BDT) was chosen by the Indian maritime industry to improve document processing and the movement of goods in the country’s ports.
In a statement, CargoX said it had partnered with Portall Infosystems, a company responsible for creating the electronic port community system in India to digitize the processing of bills of lading and the transfer of business documents.
This follows Portall Infosystem’s successful tests on the CargoX BDT platform, which has examined its ability to meet the needs of the Indian maritime industry, particularly in electronic procession bills of lading.
The COVID-19 pandemic made it necessary to use intelligent technologies and innovations, such as an electronic bill of lading, to eliminate the backlog of goods in ports.
In a recent PTI Webinar on the value of digitizing the port, it was expected that the pandemic would accelerate the establishment of an electronic bill of lading.
Technical document PTI – TradeLens and India: Blockchain, progress and opportunities
The government of India has started to assess ways to implement electronic bills of lading, electronic delivery notes, certificates of origin, letters of credit and other business documents for all EXIM transactions in India.
The Indian port community system has experienced rapid growth in the number of users since 2018, when Portall won the tender to modernize the PCS.
The main objective was to improve the Ease of Doing Business in India (EODB) ranking, reduce health risks, and avoid bottlenecks caused during the paper-intensive process processing. export-import freight (EXIM) in their ports by digitizing the processes.
The dozen major Indian ports handle around 60% of the country’s total freight traffic. In 2019-2020, this represented almost 705 million tonnes of freight and 20,837 ships handled by these ports.
“We developed the CargoX platform for contactless and distributed online teamwork – and we are glad we did,” said Stefan Kukman, CEO and founder of CargoX.
“In these times of multiple risk to our common society, we are proud to help shipping companies solve the problems of sending supply chain documents and allow them to meet delivery times anywhere in the world, securely and efficiently, while reducing document transfer. Cost.”