Israeli shipping line Zim has announced that it has successfully completed the pilot of paperless bills of lading based on blockchain technology, in cooperation with Sparx Logistics and Wave.
The solution is first of its kind led by an ocean carrier, allows the secure exchange of original documents on the blockchain.
The new blockchain-based system developed by Wave uses distributed ledger technology to ensure that all parties can issue, transfer, endorse and manage shipping and trade related documents through a secure decentralized network. The application is free for shippers, importers and traders and requires no IT or operational changes.
“Promoting innovation and technology in our industry is an integral part of ZIM’s vision. While we are still in the process of evaluating the technology, we are confident that this type of forward-looking ideas will advance our industry as a whole towards a more efficient and modern phase,” said Eyal Ben-Amram, CIO of Zim.