Blockchain-based Digitalization of Import/Export Process

Issues related to the bill of lading delivery : time and cost

Like you can see, the importance of a written copy B/L for the dispatch to place of delivery final which would be perfect for a digital creation. However, there have certain conditions like : 

• High cost : a B/L between $200 - $450 according to the management and the price of the delivery  
• Time-consuming : a delivery B/L can be 5 to 10 days. However, the delivery B/L can be done in the time or on the other hand have a delay of time by the number of outpace.

With the blockchain of the management logistics house and master B/L, the take of goods is followed on full procedure.

The B/L follows procedures and can be changeable, additionally, in case of re-control can be expensive and time-consuming. Of this fact, the goods are kept at port and damaged, and follows a cost in millions dollars for late delivery.

The digitalization of the B/L for a better import/export process

1. The advantages of the Digitalization

The development of the internet is important, for everything from mail deliveries to document B/L. Not only, the digital procedure be that include electronic knowledge, with certain disadvantages, like : 

• Low security : the technology is a source of logistics especially information security, against the cyberattack of information hackers
• Lack of transparency : The cost of the import-export is an electronic bill of lading provider of confidential operations

Blockchain and B/LDigitalization are a good collaboration at the moment of international shipping operations and increases the turnover by the number of containers. If the challenge is well validated, technology Blockchain makes annual economics of millions dollars to the whole world.

A B/L " Bill of Lading '' or " BOL " is a document of contract of transport between a freight carrier and shipper. Like a document of title used generally for sea freight transport.

2. Advantages of Blockchain applications in B/L

Blockchain presents many advantages :

• High security : I added this part B/L Data taken back to an informatic network of type “ peer-to-peer “. Of this fact, data encoded are put at the only disposition of an authorized person, by the full management of the security procedure. 
• Transparency : sharing data to company members is one of the biggest advantages of Block chain application in B/L…in this case we will choose digital management. 
• Low cost : economic gain for the import-export
• Quasi-real time delivery : mail and electronic mail B/L now
• The B/L cannot be lost or changed
• Blockchain application for B/L :it is a  benefit in the R&D by Blockchain network performance, eco-responsible and human of the electronic utilization B/L. 

A cost of economic gain is tracked , if companies follow this amelioration. For instance people who will be interested in this procedure may count : 

The professionals of the import-export, experts of  the international shipping and the monetary manufacturers as :

Accurate blockchain application B/L process

The technology Blockchain application in B/L, improves the economic and productivity of companies. Blockchain based electronic B/L, is a human cost and logistic cost, next to study of Pacific International Lines (PIL) Singapore based company.               

Solutions find are : 

• Time gain administrative effort for B/L
• Time of delivery gain of products fragile
• Logistic procedure and secure face to deception

And without PIL, the application Blockchain as B/L, is a time gain and without the PIL, the application of Blockchain in B/L may help with time gain and reducing sea costs applied by : 

• 4 companies competitors the in international shipping operations and logistic in the world

Blockchain technology has technological applications, processes applied by different countries. For example, a contractual maritime collaboration between 2 asian companies in the application electronic B/L.

The law procedure of electronic documents, in the case of the delivery B/L according to the countries international. And the technological application is contractual and legal in B/L countries in the digital domain.

Digitized blockchain products and services

The utilization of B/L may help with economic gain and enhancing performance thanks to the system of technical development for application in the transaction procedure known as B/L.

In collaboration with logistics professionals,  File Transfer Protocole (FPT) Blockchain have of informatic skills and internet that its skills technology Blockchain like :  

• Proof of Concept (POC) on development of numeric knowledge for a time gain of customers services economic in the case digital
• A technology channel between his source and his Blockchain system, by the development of an Adapter
• Transaction data from existing system to Digital B/L system as Blockchain, on a process long of exam by a source in the case of the digitalization.

Conclusion

The Digitalization is an economic cost essential in the import and export process, who have an important technology of numeric cost and internet development. On the other hand the Blockchain presents different services like :

• The Blockchain technology:  communication process include the economic process, it affect the ways the whole process work without the intervention of intermediary in the international sea shipping

• The Blockchain delivery : reduce of the delay of deliveries by the time of order and, economic cost of the price of the delivery

• The Blockchain application : electronic application of internet development, which will increase the productivity of goods.

In addition, the economic cost is important in the utilization of digital and the security of basedata.