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PIL COOPERATED WITH IBM IN DEVELOPING BLOCKCHAIN IN PAPER WORKS.

11:58:5304/12/2018

Two companies shall cooperate in design and create an e B-L which is lived in blockchain. In intemanonal trade. Bill of loading is not only the proof of cargo's property and transport contract but also the proof which is based on disbursement by bank or financial organization.

However, B/L is usualy concerned into a lot parties, so there is risk of losing or cheating. Besides that, B/L is sent to some other parties increasing unnecessary cost.

With the new e- B/L in blockchain, it is hoped reducing cost or cheating in future.

"In addition, data process is through handmade procedure and tlhe supply chain is slower than" Ms. Lisa Teo Managing Director of PIL said. "By using blockchain technology could reduce the risk dispute in this industry.

This product is not the first product of IBM. Last early year, IBM had cooperated with Maersk Line, the best shipping line all over the world in using Hyperledger Fabric in ports, shipping lines and forwardings networks

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