India To Use CargoX Platform For Digitizing Shipping Documents
India To Use CargoX Platform For Digitizing Shipping Documents
June 12, 2020
India To Use CargoX Platform For Digitizing Shipping Documents
India To Use CargoX Platform For Digitizing Shipping Documents
June 12, 2020

India’s maritime industry is looking to utilize the CargoX platform for Blockchain Document Transfer (BDT). 

On June 11 World Cargo News reported that CargoX has integrated its BDT into the Indian Port Community System (PCS), a subsidiary of the Indian Ports Association.

It is aimed at digitizing India’s maritime infrastructure.

Portall Infosystems (company that developed PCS) along with global shipping companies successfully tested the CargoX platform for transferring electronic bills of lading.

Proofs-of-concept was run to ensure the system’s compliance with the Indian Ministry of Shipping’s digitization initiative.

CargoX stated that the tests were conducted for “various use-case scenarios, including breakbulk and container shipments, export, and import from and into India.”

PCS is currently integrated at 19 major and minor ports across India that have more than 16,000 corporate stakeholders.

ALSO READ :  Simpsons Latest Episode Features Jim Parsons Explaining Blockchain And Cryptocurrencies

The integration of CargoX with the PCS will allow the stakeholders to electronically manage the bills of lading along with other shipment documents.

Thereby reducing time and cost consumption in the process.

The COVID-19 pandemic has only made more companies to digitize their workflow as the traditional systems failed to deliver due to social distancing practices.

In May, India’s Adani Ports and Special Economic Zone Limited partnered with TradeLens to utilize its blockchain-based supply chain solutions.


Source: Cointelegraph | Image: Unsplash

Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit rolls out a BTC/USD quarterly futures contract today. Two contracts will be offered at launch BTCUSD1225 by settling on December 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021. It has been...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.