The digital age of shipping: WaveBL’s blockchain-based solution for the legal and sustainable transition to eBLs

The shipping industry is currently focused on the transition from the traditional paper-based bill of lading (BL) to the electronic form of this document.

The BL represents the transfer of ownership of goods from a seller to a buyer and serves as a legal contract. It acts both as proof of shipment and as a legal document authorizing the holder to claim the goods described in the BL.

The paper-based BL process has been effective and necessary over the years as it provided a physical document that can be transferred and presented as proof of ownership and legal protection against fraudulent activity.

Although the transition to a digital form of this document seems logical, it has taken the shipping industry several years to test, trust and fully accept the use of the Electronic Waybill (eBL) due to legal and technical challenges. However, the digital age of the shipping industry has arrived and the transition to eBL is already underway. The maritime industry has committed to becoming fully digital by 2030, as announced by DCSA.

According to WaveBL, a trusted solution deployed in over 100 countries, a successful eBL solution must support the legal aspects and processes of paper-based BL while enhancing this traditional process.

“Our solution is the best on the market for the paper-to-electronics transition,” said Noam Rosenfeld, CEO of WaveBL. “We ensure that our eBLs created on the WaveBL platform comply with existing and expected regulatory requirements worldwide, making them trusted and legally binding documents.”

In addition to the unmatched Trusted Level, WaveBL offers incredible benefits:

First, they provide more transparency, reduce fraud and errors compared to paper-based BLs, and provide real-time tracking that allows shippers and carriers to monitor shipments and ensure on-time delivery.

Second, Wave eBL offers a high level of security with digital signatures, encryption and secure servers, reducing the risk of tampering, fraud and unauthorized access.

Third, WaveBL increases the speed of BL transactions so they can complete in real time, reducing overall processing time and costs.

Finally, WaveBL offers a more sustainable process than traditional BL by significantly reducing the amount of paper and ink required and eliminating the need for physical transport of documents, further reducing carbon emissions.

“Our state-of-the-art digital platform with an easy-to-use interface allows eBLs to be easily created, transmitted and stored, making it a valuable tool for companies looking to digitize their trading documentation,” said Ilan Weiss, VP of Marketing at WaveBL. “We are seeing the adoption rate of eBLs increasing.”

In general, eBLs are gaining ground and their wider adoption now seems a matter of time and manner. WaveBL could certainly be the representative example of how this electronic solution can be viable and effective, and the company can be considered a pioneer in this important marine industry transition.

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