IBM has successfully completed the shipping of 108,000 mandarin oranges from China to Singapore using blockchain technology. The trial was conducted with an aim to reduce paperwork formalities and shipping costs involved.

According to a press release, Pacific International Lines (PIL) handled the transit using an e-BL, an electronic version of the Bill of Landing developed by IBM Research Singapore, which was processed on blockchain. The shipment is claimed to have played an important role in managing the efficiency of the supply chain.

Harriet Green, CEO and Chairman of IBM Asia Pacific, has stated that blockchain can drastically reduce the time taken and costs involved in the former processes of completing a trading process. He also claimed that e-BL has the potential to revolutionize the entire trade ecosystem and boost trusted business relationships between involved parties.