COSCO SHIPPING: First "chain" Malaysia, making electronic bills of lading more convenient

        Recently, COSCO SHIPPING Lines and Bank of China have cooperated to promote the implementation of the blockchain electronic bill of lading service in Malaysia. After more than a month of careful organization and multi-party cooperation, the first batch of goods using the blockchain electronic bill of lading was shipped and shipped in early May. .

　　The first "chain" pilot customer has a large number of goods shipped from Malaysia to China for a long time, and has been issuing original bills of lading, and trade settlement through letters of credit. Due to the high value of goods and large capital occupation, customers have always hoped to speed up the circulation of trade documents such as bills of lading and letters of credit.

　　The blockchain electronic bill of lading program satisfies the needs of customers well. With the traceability and trustworthiness of the blockchain technology, shipping companies and banks have realized the interconnection of system data and the collaboration and mutual trust of business processes, and the speed of document circulation and letter of credit review has been greatly accelerated.

        After each electronic bill of lading is issued, the customer and the bank can check and receive the electronic bill of lading on the blockchain platform for the first time, eliminating the need for the customer to obtain the original paper bill of lading from the shipping company and mail it to the bank. Potential risks, faster completion of letter of credit financing and settlement, effectively improving the capital efficiency of customers.

　　 So far, Malaysia has become the first country in the RCEP area of ​​COSCO SHIPPING Lines to successfully issue a blockchain electronic bill of lading. At present, many local customers have expressed their desire to try the blockchain electronic bill of lading service.

　　 COSCO SHIPPING Lines will continue to adhere to the "digitalization" strategy, relying on blockchain technology to innovate continuously, strengthen the upstream and downstream collaboration of the industrial chain, tap the potential of smart shipping, and provide customers with better quality and convenient services.