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India opens its doors to the blockchain

by Port News Editorial Staff

India opens its doors to the blockchain. The Government has successfully finished tests for the complete digitization of bills of lading.

All documentary paperwork involved in the shipping of goods by virtue of the signing of a transport or charter contract will henceforth be processed digitally. Stakeholders will be able to transfer all bills of lading to the Cargo X platform for Blockchain Document Transfer (BDT) platform.

Thanks to this solution, stakeholders throughout the process can easily control the bills of lading. All transactions will be carried out in a secure and transparent way: it will be more difficult to falsify or modify electronic documents.

Projects of this kind have become a priority in a country which, like others, has not come out completely unscathed from the economic crisis triggered by Coronavirus.

In particular, during this period many problems have arisen related to the management of all paper-based administrative processes related to the transport of containerized goods and the lockdown measures introduced to stem the spread of the virus have brought many ports to their knees, which have found themselves at risk of congestion due to the numerous cargoes accumulated in temporary storage areas.

Translation by Giles Foster

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