Trials
Over 40 industry players, 14 government bodies and Trade Association and Chambers, and 10 platforms have successfully conducted trials for Trade Finance and Cargo Release use cases.
|
Trade Lane (Port Of Load - Port Of Departure) |
Companies |
Document Types |
|
Vietnam - Netherlands |
Olam
|
Bill of Lading |
|
Rio Tinto
|
Certificate of Origin |
|
|
Emirates NBD - DBS |
Bill of Lading |
|
|
DBS(SG) - DBS(AD) |
Bill of Lading |
|
|
StanChart (SG) - StanChart (AD) |
Bill of Lading |
|
|
ExxonMobil SG/ TH
|
Bill of Lading |
|
|
Maersk
|
Bill of Lading |
|
|
Pacific International Lines
|
Bill of Lading |
|
|
China (Shanghai) - Singapore |
Pacific International Lines
|
Bill of Lading |
|
UK - Singapore |
Tradeflow Capital
|
Bill of Lading |
|
Maersk
|
Bill of Lading |
|
|
Maersk
|
Bill of Lading |
|
|
Bahrain - Melbourne |
ONE
|
Bill of Lading |
Other trials:
|
Trade Lane (Port Of Load - Port Of Departure) |
Document Types |
|---|---|
|
South Africa - China |
Invoice, Packing List, other digital docs |
|
Japan - Philippines |
Bill of Lading |
|
Singapore - The Netherlands |
Bill of Lading |
|
Indonesia - USA |
Bill of Lading |
|
Thailand - Singapore |
Bill of Lading |
|
UK - Singapore |
Bill of Lading |
|
China (Shenzhen) - Singapore |
Bill of Lading |
|
Thailand |
Bill of Lading |
|
Abu Dhabi - Thailand |
Bill of Lading |
Contact us for more information and use cases.
Proven Benefits
The Singapore and Netherlands trial saw significant time savings in the Bill of Lading (BL) documentation process from an average of six to 10 days when using a hardcopy, to less than 24 hours when using an electronic BL.
“The successful application of blockchain technology in this trial has shown us the potential to considerably improve turnaround times for the exchange of trade documentation from 48 hours to just under a day–a huge benefit in terms of efficiency, security and interoperability across systems.” said Alf Barrios,Chief Commercial Officer, Rio Tinto.
According to COFCO International, "it is estimated that by promoting digital transformation of their shipping and two export processes, the document-processing efficiency of COFCO Industrial Food can be improved by over 80%, and the business operation cost can be reduced by over 30%."
The Singapore and India trial resulted in a reduction of the total trade finance lead time from 25 to 30 working days when using paper-based documentation to only 10 working days with TradeTrust-enabled documents. All parties benefited from efficiency gains, elimination of manual processing and errors, and a reduction in the risk of fraud.
MTI TradeTrust Pilot Case Study Video
Join us for proof of concept and adoption.