Successfully completed trial between Port of Rotterdam and Port of Singapore (digital transfer of ownership by means of an eBL)
A successful eBL trial between Singapore and Rotterdam has been completed, the key success factor was the interoperability between Naviporta, dltledgers and TradeTrust.
The trial proved that digital transfer of ownership by means of an eBL saves time and improves efficiency. Industry partners, Ocean Network Express and Olam saw a reduction of end-to-end documentation processing time from an average of six to ten days when using a hardcopy to less than 24 hours when using digital transfer of ownership of the eBL. In addition, DCSA estimates that the industry can potentially save more than $4 billion per year if 50% eBL adoption is achieved.
Interoperability between different platforms
The trial proves that interoperability between different platforms enables secure sharing of trusted information, and transfer of ownership between supply chain participants. Via platforms like Naviporta, blockchain based and non-blockchain based platforms can connect and interact with multiple stakeholders. Blockchain allows for a distributed and automated ‘single source of truth’ containing all relevant information such as the owner of the BoL.
Connect once, connect to many
The power of the Naviporta network is that companies connect just once and automatically connect to many best-of-breed solutions. So, what would a reduction of 84% in time mean to your logistic operations? Get in touch and discover how Naviporta propels seamless global trade for your organisation.
Read the full press release of this eBL trial on dlt.sg/dlt-news/
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