First cross-border blockchain electronic invoice financing service launched

Chongqing – Yuxinou (Chongqing) Logistics Co., Ltd has recently launched its first blockchain electronic bill of lading financing service, a breakthrough in the functionality of the cross-border logistics documentation and rights certification of China Railway Express (CRE) to Europe.

“Our future plans involve continuously promoting the construction of multi-scenario services for CRE, improving the comprehensive service capabilities through the use of ‘blockchain + supply chain’ financial innovation technology,” said a relevant person in charge of Yuxinou (Chongqing) Logistics Co., Ltd.

Integration of commercial, logistics, information and capital flows

Utilizing a blockchain-based electronic bill of lading system, the international intermodal electronic bills of lading for the railway can be directly issued by Yuxinou (Chongqing) Logistics Co., Ltd and seamlessly transferred to the consignees.

This means that without the need for security or collateral, the recipients can obtain financing loans by presenting the electronic bills of lading, completing the entire process paperless. This innovative approach offers benefits such as visibility, control and traceability.

Compared to traditional paper bills of lading, digitizing bills of lading through a blockchain platform overcomes challenges such as verification and tampering, resulting in higher efficiency, increased authenticity and improved convenience. This breakthrough also integrates commercial, logistics, information and capital flows, thereby revolutionizing supply chain finance.

The entire process, from invoicing to circulation and funding disbursement, takes less than two days. This reduction in time dramatically improves cash flow turnover, supply chain efficiency and cargo control, further reducing operational risk for importers.

“Warehouse-to-warehouse” model for the logistics industry of the future

The current funding model for rail electronic waybills focuses primarily on the station-to-station approach, which is replicable, scalable and has the potential to become a standardized product.

Expanding from station-to-station railway bill of lading financing to the warehouse-to-warehouse model represents the future direction of the industry. Once established, this model will bring transformative changes to the replication and application of electronic railway bills of lading in the cross-border logistics sector.

The “station-to-station” model refers to the transportation of goods between logistics stations, typically involving cargo movement from one logistics center or container terminal to another. This model is characterized by its focus on the transport process between specific stations, and ensures efficient connection between different points in the supply chain.

On the other hand, the new trend of the warehouse-to-warehouse model emphasizes transporting goods from one warehouse to another. It encompasses the entire logistics process, from the original warehouse (often the shipper’s or supplier’s warehouse) and ends at the destination warehouse (where the recipient or final destination is located).

This approach offers a more comprehensive and end-to-end solution, which not only addresses transportation between stations, but also management and coordination of cargo within the storage facilities.

This shift to the “warehouse-to-warehouse” model also enables improved inventory management, precise tracking of goods, improved supply chain visibility and better control over the entire transportation process.