Israel’s top cargo shipping firm Zim opens its blockchain-based platform for electronic bills of lading platform to all users in selected trades. TradeWinds, a global shipping news outlet reported the news on Jan 14.
The shipping firm after the successful trial of its blockchain-powered eB/Ls platform that continued for a year. It has claimed that blockchain can not just supersede the present paper-based processes. But it also can enhance the workflow carried out through fax, email and other channels.
As per the report, recently two transactions on the platform were carried out in less than two hours. The process usually takes many days or weeks . However the transactions are fast using eB/Ls. The report further reveals that blockchain-based trades will be made available to all users. The firm mainly intends to focus on SA, Asian, Mediterranean and North American nations in the Q1 this year. Zim’s Chief Information Officer, Eyal Ben-Amram said that optimizing digitization is a part of the firm’s plan.
In the fast-changing shipping industry, Zim has set itself as an independent carrier with an unique and fresh approach. Zim is currently ranked as 11th biggest container operator in the world based on the annual volume of freight transported. The firm offers distinctive benefits to users worldwide.
They have created an efficient and smart network that ensures reliable, stable services. The shipping firm mainly focuses on the requirements of the users. The firm makes the most of their creativity and flexibility to offer premium solutions and services as per the user needs. However, it is not the only firm which uses blockchain to improve its business.
Others in the Race
In 2018, a subsidiary of a major UAE seaport operator rolled out an international blockchain trial. The firm partnered with Port of Antwerp to offer better cargo supervision and also to enhance trade flow. They also intended to supply chains betwixt Belgium and UAE.
Back in September last year, British Ports signed an agreement with Marine transport, a digital logistics operator. As per the agreement, both the firms intended to develop a blockchain-powered system for port logistics. Furthermore, the main aim was to reduce the amount of manual data .