The fruit orange is the only fruit which has its own color as its name. The recent news says about this fruit Orange to be on the blockchain. How?
The Pacific International Lines along with IBM Blockchain are utilizing an electronic Bill related to Lading. This is essentially an invoice which guides the shippers to follow a significant product right from the factory to a depot. This network also connects the e-BL back to the blockchain.
But, how come oranges add up on the blockchain? It doesn’t seem convincing. However, this is true!
Everything has its own origin and destination point. Similarly, the uncut mandarin oranges say coming from China to Singapore through a boat. On the other hand, IBM states the pilot to be a success, mentioning that 3,000 fresh oranges successfully arrived before scheduled time. Currently, there are thousands of oranges that are blockchained and available beforehand. Isn’t this great! According to a spokesperson at IBM:
Companies that ship perishable items like mandarin oranges require efficient document processing and expedited cargo clearing for delivery to help shorten overall shipping time, which in turn reduces risks for retailers and provides fresher options to consumers.
This procedure means that shipment of oranges coming from China might take seven days for the same transfer considering critical shipping documents which are ultimately, the cargo.
Meanwhile, the pilot presents a demo with some significant reduction relating an administrative procedure to transfer the title deed. This varies right from 5 – 7 days to just a few seconds. Moreover, the oranges are said to come from Hupco Pte Ltd. which is basically a mandarin orange importer within its region. According to the CEO at Hupco, Tay Khiam Back:
We are delighted with the outcome of the trial. By using the e-BL, we have seen how the entire shipment process can be simplified and made more transparent with considerable cost savings.
However, it is yet not clear about this technology to be available for various fruits out there such as bananas, strawberries, etc.