Zim, the largest Israeli shipping company, has opened a blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details platform for electronic bills of lading (eB /Ls) available to all customers, – as reported by the TradeWinds shipping news service.
After the successful launch of its blockchain-based eB/Ls platform, which lasted for more than a year, the shipping company stated that the blockchain can not only replace the existing paper processes, but also improve the workflow carried out via e-mail or fax.
According to a TradeWinds report, the last two transactions on the platform were successfully completed in less than two hours each – as opposed to the few days or weeks that this process usually takes – using electronic bills of lading delivered via the blockchain-based system.
Bidding for customers
As part of the new Zim plan, blockchain-based tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details will be open to all customers, with a focus on countries in Asia, South Africa, North America and the Mediterranean in the first quarter.
Blockchain operations of companies
Last year, a subsidiary of Abu Dhabi Ports, a major operator of the sea port of the United Arab Emirates, launched an international pilot blockchain with the port of Antwerp to improve cargo monitoring and improve trade flows and supply chains between the UAE and Belgium.
In September 2018, the United Kingdom’s major port operator, Associated British Ports, signed an agreement with the digital logistics operator Marine Transport International to develop a blockchain-based port logistics platform to reduce manual data management.
Zim, a leading Israeli company, does not lag competitors and the opening of the blockchain platform serves as an example.
According to Alphaliner, Zim currently ranks 11th in the world in terms of container carriers in terms of cargo volume transported per year.
Editor: Yuliya Soroka