Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Israeli container shipping firm ZIM trials blockchain-based Bill of Lading

Israel-based container shipping company ZIM, in collaboration with Sparx Logistics and Wave, has completed a first pilot of paperless Bills-of-Lading based on blockchain technology.

The new solution allows secure exchange of original documents on the blockchain. Developed by Wave, it uses distributed ledger technology (DLT) to ensure that all parties can issue, transfer, endorse and manage shipping and trade related documents through a secure decentralized network.

“We thank ZIM for leading the industry adoption of the Wave application and network. Moving to a digital Bill 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. We look forward to continuing the process and invite more of ZIM’s customers and partners to join the pilots and use Wave for their business needs,” Wave CEO Gadi Ruschin said.

During the trial, the participants issued, transferred and received original electronic documents using the Wave Application. The containers, shipped by Sparx Logistics from China to Canada, were smoothly delivered to the consignees.

“I’m proud that ZIM leads the way in introducing blockchain technology to the shipping world, and congratulate our partners in this exciting initiative, Sparx Logistics and Wave Ltd.” ZIM CEO Eli Glickman.

According to the official announcement, the application is free for shippers, importers and traders and requires no IT or operational changes.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 11 09:00 UTC Released

ITRetail Sales NSA YY

Actual

-2.1 %

Forecast

Previous

3.4 %

December 11 09:00 UTC Released

ITRetail Sales SA MM

Actual

-1 %

Forecast

Previous

0.9 %

December 11 11:30 UTC 117117m

TREndYear CPI Fcst/Cb Svy*

Actual

Forecast

Previous

10.68 %

December 11 15:00 UTC 327327m

USEmployment Trends*

Actual

Forecast

Previous

135.6 tln

December 11 15:00 UTC 327327m

USJOLTS Job Openings*

Actual

Forecast

Previous

6.093 Mln

December 11 21:00 UTC 687687m

KRExport Price Growth YY*

Actual

Forecast

Previous

8 %

December 11 21:00 UTC 687687m

KRImport Price Growth YY*

Actual

Forecast

Previous

6.8 %

December 11 23:50 UTC 857857m

JPCorp Goods Price MM*

Actual

Forecast

Previous

0.3 %

December 11 23:50 UTC 857857m

JPCorp Goods Price YY*

Actual

Forecast

Previous

3.4 %

December 12 00:30 UTC 897897m

AUNAB Business Conditions

Actual

Forecast

Previous

21 Bln TRY

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.