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IBM & Pacific International Lines Complete Blockchain Trial Shipping 108,000 Oranges To Singapore

Stefan by Stefan
01/02/2019
in Blockchain News
1 min read
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In the latest headlines on our DC Forecasts crypto news site, we are focusing on blockchain technology and one of its pioneers – IBM. The company appears to be comfortable innovating the field of blockchain trade management and has recently completed a new trial which shipped 108,000 mandarin oranges to Singapore, according to an official press release submitted yesterday.

The major technology giant is focusing on ramping up the efficiency in multiple trade environments and using blockchain to reduce paperwork handling and costs for shipment, which originated in China.

Meanwhile, Singapore is importing a significant quantity of mandarins ahead of the lunar new year, which is the right time when IBM kicked off with this project. The transit, on the other hand, was handled by Pacific International Lines (PIL) using an electronic version of the Bill of Lading (e-BL) which is an essential trade document, processed on the blockchain.

The CEO and Chairman of IBM Asia Pacific Harriet Green commented in the press release, noting:

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A blockchain-based trade network will be a game-changer, and we have a great opportunity here with our partner PIL to revolutionize the documentation processes in a way that benefits the entire industry.”

Green also added that this solution “will be critical in helping to establish an extensible ecosystem for trade, thus expectedly enhancing the trade efficiency and building trusted trade relationships among the industry players.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Tags: 108kfeaturedIBMorangespacific internationalshippingSingapore
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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