Slovenia-based CargoX has announced its Platform for Blockchain Document Transfer (BDT) has been integrated with India’s Port Community System (PCS), which was built by India’s Portall Infosystems, a J.M. Baxi company.
India is embarking on a digitalisation drive for all trade documents, including bills of lading “as one of the last missing elements within the country’s electronic PCS”, said CargoX. That initiative became even more important because of the COIVD-19 pandeminc. “The Government of India accordingly started evaluating ways to implement electronic bills of lading, electronic delivery orders, certificates of origin, letters of credit, and other trade documentation across all EXIM transactions in India,” CargoX added.
To this end The CargoX Platform for BDT has been successfully tested by Portall Infosystems and India’s global shipping stakeholders to transfer electronic bills of lading. “CargoX and Portall Infosystems have entered into a partnership to digitalise the processing of bills of lading and the transfer of trade documents. The CargoX Platform can be accessed by stakeholders through the P-CaSo services marketplace, integrated into PCS 1x,” CargoX announced.
Portall has implemented its PCS at 13 major Indian ports, and 19 ports in total with 16,000+ corporate stakeholders. Integrating CargoX with the PCS means those stakeholders have the option to manage bills of lading and other documents electronically, which is both more efficient and more consistent with the need for social distancing in the pandemic.
