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Rival platforms exchange electronic BoL in six minutes

[ December 15, 2022   //   ]

Blockchain document company CargoX says it has completed the world’s first transaction between competing electronic bill of lading platforms. with edoxOnline. The eBL was created by the shipping line on CargoX, transferred to the shipper on edoxOnline, transferred to the consignee on edoxOnline and surrendered to the shipping line on CargoX, a process that took six minutes, said CargoX.

CargoX founder and chief executive Stefan Kukman, said: ” Distributed global computing solutions have emerged as an alternative to centralised systems. It is only logical that eBL platforms provide interoperability between them to avoid centralization and market manipulation.

“We support standards-driven interoperability, and we firmly believe this is good for all economic operators and governmental entities participating in global trade.”

CargoX chief commercial officer, Peter Kern added that interoperability requires compliance with open-source digital standards and implementation in each solution participating in the global eBL market. “Interoperability will enable companies and governmental entities to choose their preferred provider and exchange electronic trade documents with other entities, regardless of which platform they are using,” he said.

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