Syngenta and HSBC go paperless on TradeLens platform

PRESS RELEASE:

TradeLens, a digital platform launched by IBM and A.P. Moller ? Maersk, announced the successful completion of an innovative letter of credit transacted with HSBC and Syngenta, using a digital bill of lading underpinned by blockchain technology. Agrichemical product was shipped from South Korea to Bangladesh using an entirely paperless process. This milestone demonstrates an important step in modernizing trade finance and supply chain efficiency across the global trade ecosystem.

Electronic bills of lading have been considered the holy grail ...