Israeli cargo shipping firm utilizing blockchain platform
Largest cargo shipping company of Israel, Zim has open blockchain based billing platform for all its customers for loading the ship with cargo for trades.
The shipping company was taking a trial of blockchain based eB/Ls platform for about a year and has got success in it. The company representative said that the blockchain could make not only the use of current paper-based work culture obsolete but also has the capability to improve the work process carried out by email, fax and other forms of communications.
According to the reports, two transactions that were conducted on the platform took less than two hours which traditionally takes more than a week time. After using eB/Ls, they have experienced faster transactions. The electronic bills for lading were also delivered using this system. They have further confirmed that the blockchain based trade will be made available to all the consumers in the coming days.
During the first quarter of the current year, the company wants to focus on the customer based in countries of Asia, North America, South Africa, and the Mediterranean for their blockchain based customer support. The information officer of the shipping company has confirmed that the company is looking forward to optimizing the digitization part.
According to the data provider of shipping industry, Zim is ranked eleventh. It has made a place for itself in the industry with its innovative and fresh approach. It has set its name among the largest container operator for freight transport. The benefits enjoyed by its users are distinctive and is offered around the globe.
They have efficient and stable network that ensure smart services, and they are focused on understanding the user requirements. However, they are not the pioneer in using the blockchain technology in the shipping industry. Last year the subsidy of United Arab Emirates, Abu Dhabi Ports had launched their blockchain based project, to improve cargo and ensure better trade between UAE and Belgium.
British ports also engaged a contract with Marine Transport International for the development of blockchain based platform, with a focus to reduce the manual management of data for coordination and planning of port. Furthermore, Marine Transport is a digital logistic operator, and the agreement was signed in September 2018.