Pacific International Lines Implements Blockchain for Digital Shipping Processes

Asia Blockchain Review
June 12, 2019

Pacific International Lines (PIL), an international shipping company, has announced its decision to join the blockchain-powered logistics platform provided by Singapore-based Global eTrade Services (GeTS).

Managing Global Supply Chains with Blockchain

According to Ledger Insights, GeTS’s CALISTA platform enables shippers to manage global supply chains digitally, with parts of the system running on a blockchain.

The Singaporean firm explained that CALISTA provides interoperability and further opportunities for business growth, while offering security and enhancing efficiency for shipping companies.

One aspect of the shipping industry that has been transformed by distributed ledger technology is the way documents are now stored securely on a blockchain. Formerly, paperwork and permits for cargo to embark and disembark are couriered or mailed, with both methods at risk of fraud and delays.

GeTS’ blockchain platform, the Open Trade Blockchain (OTB), was introduced in 2018 with the goal of eliminating shipping fraud.

Blockchain Drives Digitalization in Freight Industry

Both parties have stated that blockchain will be one of the elements driving the freight industry forward and building more trust among shipping companies.

Eugene Wong, Chairman of GeTS, said, “The benefits of a global digital trade and supply chain platform that connects the trading community are aplenty and we are delighted to have PIL come onboard on CALISTA serving as a platform for their business growth.”

Lisa Teo, Executive Director of PIL, said, “PIL is pleased to join the CALISTA platform […] this fits in well with our digitalisation strategy and we will continue to improve our processes, seeking ways to better facilitate trade within the intermodal transport logistics ecosystem.”

Source: https://www.ledgerinsights.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain: Fine-tuning the Music Industry
Music might be in need of another tech disruption in the form of blockchain.

July 17, 2019

Graph Blockchain Secures Contract with South Korean Transport Ministry
The pilot project is for storing traffic data on a blockchain network as part of the Smart City nati...

July 13, 2019

Hong Kong, a Great Place for Blockchain Startups
It is quite evident that Hong Kong is quite rapidly developing to be a blockchain hub in the region ...

July 12, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us