How Yantian Port & COSCO Shipping Achieved Breakthrough with China's First Blockchain e-B/L Exchange
Publish Time: 2025-07-03 Origin: Site
China's Shipping Digital Leap: Paperless B/L Goes Live
1. The Milestone
? First Success:
COSCO's Hong Kong-Shenzhen feeder route completed fully digital B/L exchange
Covers both Seaway Bills and Telex Releases
Expands 2024 achievement of paperless liner imports
Tech Backbone:
Homegrown blockchain platform by Yantian International
Smart contracts + military-grade encryption
Granular data access controls
2. Tangible Benefits
?? 10-Minute Processing (vs. 2 days previously)
75% Step Reduction: 4 steps → 2 steps
Carbon Cut: Eliminates 23kg paper waste per 100 TEUs
3. How It Works
1?? Carrier Issues e-B/L on blockchain
2?? Customs/Port Auth verify via encrypted nodes
3?? Real-Time Release with digital signatures
Why This Matters
? Security: Tamper-proof records prevent B/L fraud ($600M annual industry loss)
? Efficiency: Cuts vessel dwell time by 4 hours per call
? Scalable: Platform ready for all Chinese ports
"This isn't just paperless—it's a new trust architecture for global trade." — Yantian Port CTO