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Blockchain to Replace Bill-of-Lading System in Oil Tanker Trade

Retrieved on: 2018-02-26 17:45:00

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<div>Several major oil companies, traders, and banks are considering <b>blockchain</b> technology for handling bills of lading, which are documents verifying cargo ownership in commodity trading. This innovation might reduce paperwork, cut costs, and eliminate errors, eventually resulting in higher profits.</div>

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