TradeLens and Blockchain Technology Supply Chain Demo

Summary

The video introduces TradeLens, a blockchain-powered digital shipping platform that revolutionizes global supply chains by enhancing transparency, collaboration, and efficiency. It allows seamless sharing and management of shipping data among various stakeholders, including shippers, carriers, customs authorities, and financial service providers. The platform’s sophisticated permissioning model ensures secure access and real-time tracking of shipments. An example of rerouting a laptop shipment from China to the U.S. highlights TradeLens' ability to adapt quickly to changes, enabling stakeholders to manage unplanned events with ease. TradeLens simplifies global trade by streamlining logistics and reducing friction.

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Q & A

What is TradeLens?

TradeLens is a digital shipping platform powered by blockchain technology that enhances transparency, collaboration, and efficiency in global supply chains.

How does TradeLens help in managing shipping data?

TradeLens provides control and management of shipping data by supplying innovative apps to every stakeholder in the supply chain, allowing them to access and manage shipping data effectively.

Who are the stakeholders that can benefit from TradeLens?

Stakeholders include shippers, freight forwarders, intermodal operators, ocean carriers, ports, terminals, authorities, financial service providers, and more.

Can you describe a scenario where TradeLens is used?

A scenario involves a shipment of laptop computers from inland China to the west coast of the United States, where TradeLens is used for document sharing, managing shipping data, and handling changes in the shipment.

How does TradeLens facilitate the creation and sharing of a Bill of Lading?

TradeLens allows the shipper to submit shipping instructions to the carrier, who then drafts a Bill of Lading for review. Once verified, it's accessible to customs brokers, authorities, and cargo owners.

What is the role of TradeLens' permissioning model?

TradeLens' permissioning model manages access to shipping data and information, controlling who can add, view, and update information at each stage of a shipment.

How does TradeLens handle unplanned changes in a shipment?

In cases of unplanned changes, such as a shift in inventory demand, TradeLens allows for real-time updates and rebooking, with amended documents published for all permissioned parties to see.

What is the benefit of TradeLens when it comes to customs clearance?

TradeLens updates the customs broker with new shipment information, which is then used to update the import declaration for timely submission to US customs.

How can users search for a shipment on TradeLens?

Users can find a shipment through a range of search parameters such as equipment number, bill of lading number, booking number, and more.

What kind of events does TradeLens track?

TradeLens supports over 120 planned, estimated, and actual events, all tracked instantaneously to provide detailed insights throughout the supply chain.

How does TradeLens help in coordinating changes in the supply chain?

TradeLens notifies downstream supply-chain partners of changes such as vessel changes, enabling them to coordinate and manage the impact of destination and timeline changes.