Today, the traditional paper-based Bill of Lading (BL) in the shipping and logistics industry faces challenges such as manual errors, delays, and inefficiencies, leading to disruptions in the supply chain. The reliance on physical documents can cause:

• Delays in ownership transfer and payments
• Increased costs as Involvement with multiple intermediaries creates complexities.
• Security Risks for goods in transit, as the lack of real-time tracking poses security risks for goods in transit. However, leading shipping companies are committed to accelerating digitalization, aiming for a 100% electronic BL (eBL) by 2030.

WAYN, as a pioneering platform will harness the most advanced technologies to revolutionize the BL process, driving efficiency and fostering a secure and transparent trade experience.

The Rise of eBL in Logistics

Blockchain technology has the potential to revolutionize the logistics industry by creating an incorruptible digital ledger that records transactions transparently and tamper-proof.

Over the years, there have been numerous proposals to transition from paper bills of lading to electronic equivalents. Blockchain technology has also been considered a potential solution, with recent discussions focusing on placing bills of lading on the blockchain. However, these proposals have been deemed incomplete, as the blockchain serves merely as a ledger.