Israel-based LogChain completed its first blockchain maritime pilot program, carrying out the first shipment via its unique end-to-end digitized and tamper-proof LogChain platform.
The shipment, transferring beverages from Belgium to Israel, was conducted using LogChain e-BL, which encompasses the ownership lifecycle and business workflow, as well as digitally signed documentation.
"We are very proud to have successfully completed this important international cycle, one of the very few in the world,” says Dudi Avni, co-founder and CEO. “We are on the brink of a new digitization era in the trade market, disrupting the old, cumbersome processes, minimizing fraud risks and literally saving billions of dollars, which we've become so used to spending for the mere sake of bureaucracy. As we progress with our unique end-to-end platform, we are working together with leading shipping companies, banks, freight-forwarders and global importers and exporters in order to create a new ecosystem that could enable this much needed revolution."