Freightalia to use CargoX’s ‘Smart B/L’ blockchain platform

Online quote management system Freightalia has signed a partnership agreement with tech startup CargoX for use of its blockchain-based electronic bill of lading (B/L) product, which completed its first ever Smart B/L mission during a trial shipment from Shanghai to Koper, Slovenia, last month.

CargoX has been developing and testing its Smart B/L platform since its debut in April. The product enables shippers to transfer ownership rights to digital lading documents instantaneously – as opposed to taking weeks to ship – reducing delays associated with lost paper documents. Smart B/L also addresses security threats via its use of blockchain technology.

Freightalia gives forwarders the ability to provide quotes to customers in real time, allowing customized access to certain kinds of data, such as the time a quote was issued, the time it was viewed, the time it was accepted, and whether its status is pending. The platform is on version 2.2, and is used by more than 300 freight forwarders internationally.

Of Freightalia’s fledgling relationship with CargoX, Freightalia CEO, David Aguyé, said the blockchain-based Smart B/L product fits its strategy. “What we value the most is the ultimate safety and transparency of transferring the documents at the same time,” he said. “This is why the paper B/L is a thing of the past. Blockchain brings that to the whole logistics segment.”