Since the COVID-19 pandemic is affecting the workflow of Indian cargo shipping, the Indian shipping industry wants to use the CargoX platform for document transfer via blockchain (BDT).
According to a report by World Cargo News CargoX has integrated its BDT into the Indian Port Community System (PCS), a subsidiary of the Indian Ports Association for the digitization of the Indian maritime infrastructure.
Tried and tested
Portall Infosystems, the company that developed the PCS, has successfully tested the CargoX platform for the transmission of electronic waybills together with global shipping companies.
The company had carried out proofs of concept to ensure system compliance with the digitization initiative of the Indian Ministry of Transport. The tests were conducted for “various use case scenarios, including bulk and container shipments, export and import to and from India,” said CargoX.
Currently, PCS is integrated into 19 large and small ports across India, where more than 16,000 corporate players are represented. By integrating CargoX into PCS, stakeholders can electronically manage waybills together with other shipping documents, thereby reducing time and costs.
Large shipping companies join blockchain platforms
Some of the world’s largest shipping companies have partnered with blockchain platforms to digitize their documentation process. In 2019, the world’s second and fourth largest shipping company, Mediterranean Shipping Co. and CMA CGM, joined IBM’s TradeLens platform.
The pandemic has only led to more companies digitizing their workflow, as traditional systems have been unable to comply due to social distancing practices. In May, two of the world’s largest port operators, Adani Ports and Special Economic Zone Limited and DP World, partnered with TradeLens to leverage their blockchain-based supply chain solutions.