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LJUBLJANA, Slovenia: August 27, 2018. CargoX, a provider of blockchain-based Bills of Lading (‘Smart B/L’), says it has successfully tested the delivery of an ocean container discharging at the Port of Koper, Slovenia.

Last month the company announced a partnership with Fracht AG to use its Smart B/L that allows shippers to issue and transfer original B/L documents on the Ethereum blockchain network.

Evergreen Ever Ready“One of the very best uses (for blockchain), if not the best, is the use for Bill of Lading,” said Fracht CEO Ruedi Reisdorf. “We teamed up with, in our opinion, the best start-up to bring blockchain to shipping and Bill of Lading.”

The 20ft. container of garments was shipped from Shanghai on the Evergreen containership Ever Ready on behalf of Hangzhou Doko Garments, one of 1,000-plus manufacturing plants in the Hangzhou region, and imported into the EU by Metro d.d. for its network of 200 MANA clothing stores.

"We are extremely happy to be able to confirm that all went well with the new blockchain-based electronic Bill of Lading,” said Metro d.d. Logistics manager Miloš Košir. “We import hundreds of TEU from the Far East, and we are always trying hard to optimize our supply chain. If it raises the safety and reliability of the document transfer, that is an added value for us as well!"

According to CargoX, the blockchain-based B/L costs US$15, “approximately 15 percent of the estimated usual price for a paper document to be transferred through courier services across the globe”.

Hangzhou Doko Garments CEO Mr. Lin said his company was happy to be part of the test shipment: “The new process was really easy and swift to implement and the possibility to oversee where the B/L currently is, and always have the archive accessible, are advantages that we really think could bring a great benefit to us,” he added.

CargoX, founder and CEO Stefan Kukman said his company’s approach was not to solve all the shipping industry’s problems but to start by focusing on the B/L that will now be available to all potential users.

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