For the better part of 30 years the maritime industry has striven for a broadly adopted electronic bill of lading that benefits all parties in international trade. For those involved in the creation, transfer and surrender of bills of lading, the reduction of costs and inefficiencies associated with the manual movement of paper documents is a goal yet to be fully realized.
This is a repost of a webinar that discussed how importers and exporters can now use a single platform to digitize and streamline their electronic bill of lading processes.
• Overview of key trends and historical challenges of the bill of lading
• Ideas and thoughts for overcoming these industry challenges through digitization
• Discussion on how TradeLens, and platforms like it, can create immediate value
The global acceptance of eBL is in motion, how can MLETR and other legislative initiatives help?
We sat down with senior global trade experts, Diana Jones, Director of Solution Architecture, and Juanjo Ruiz, Strategy and Business Development at TradeLens to discuss the proliferation of electronic bills of lading (eBL) and the disruption of blockchain as an emerging technology with a substantial opportunity to support banks with unlocking a $3.4 trillion trade gap in the trade finance market. The following is a Q&A on these topics.
Bangladesh/Hong Kong – Citi Treasury and Trade Solutions (TTS) Asia Pacific has completed its first pilot paperless trade finance transaction using the TradeLens platform. Leveraging blockchain technology supplied by TradeLens, the pilot illustrates the effectiveness of the technology to improve supply chain efficiency by significantly reducing document processing lead times.