Friday, 24 November 2017 14:41

Paperless Bills of Lading a reality

486 wave

Blockchain firm Wave, along with Israeli shipping company ZIM and logistics firm Sparx Logistics, have successfully completed a blockchain pilot of paperless bills of lading. The solution, developed by Wave using distributed ledger technology (DLT), connects all members of the supply chain to a decentralized network and allows them a direct exchange of files. The solution ensure that all parties can issue, transfer, endorse and manage shipping and trade related documents through a secure decentralized network. Wave said the documents, which supported a trade involving containers shipped by Sparx Logistics from China to Canada, were delivered to the consignees without a hitch. Wave CEO Gadi Ruschin expect that digital bills of lading would be hugely beneficial in supporting the supply chain in general, through reduced costs, error-free documentation and fast transfer of original documents.

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