Contour, CargoX to digitalise bills of lading

Friday 30 October 2020 14:00 CET | News

Singapore-based Contour, a global trade finance network, has announced its partnership with CargoX, a blockchain platform for transferring documents and data.

The news follows Contour’s transition to full production, with the network supporting electronic bills of lading as part of digital transformation of trade. This would reduce the overreliance on paper documents and streamline trade processes.

CargoX’s blockchain-powered document transfer platform helps users to manage digital original documents, such as electronic bills of lading, and provides the tools for transfers of those documents. The platform can provide transparency by including auditable histories of document ownership and changes.

Digitally transforming these documents requires digital registries with the support of shipping lines, banks, and corporations. Through the CargoX blockchain-based platform, bills of lading will become electronic and will no longer require ‘wet ink’ to be verified.

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Keywords: Contour, CargoX, SCF, supply chain finance, blockchain, electronic bills, partnership, billing
Categories: DeFi & Crypto & Web3
Countries: Singapore
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DeFi & Crypto & Web3

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