IBM Blockchain created a project to develop a system to aid in the transportation of mandarin oranges. The bill combines the Bill of Lading (e-BL) – foreign trade document – with blockchain technology and have the development in partnership with other companies. Lunar New Year’s mandarin orange producer, for example, takes part in the project by seeking an efficient control solution for its products. Pacific International Lines looks for a monitoring solution for its cargo delivery logistics by sea.
As in many projects that employs blockchain in logistics, this system uses the main characteristics of the technology. Thus, among them are, transparency, security and cost reduction. A representative of IBM Blockchain has stated companies that carry perishable products need efficient documentation.
The complex transport logistics of mandarin oranges may take up to seven days in some cases. Hupco Pte Ltd. used the system in a pilot project and expressed his satisfaction with the results. The company realized greater efficiency and reliability in the logistics process. Furthermore, the results showed a significant cost reduction in the process, according to a report published by The Block Crypto.
Reliability of logistics systems
To sensitive products such as mandarin oranges, the technology has been applied in other complex logistics. This is the case of the monitoring of renewable energy produced in Spain that uses the technology to bring greater reliability to the system. Therefore, the technology behind the operation of cryptocurrencies has gained more and more respect from technology companies.