New ground has been broken in developing blockchain for shipping after a pilot used the technology to carry out a paperless bills-of-lading. Wave connects all members of the supply chain to a decentralized network and allows them a direct exchange of files. During the trial, all participants issued, transferred and received original electronic documents using Wave’s application, which manages ownership of documents on the blockchain to eliminate disputes, forgeries and unnecessary risks. The containers, shipped by Sparx Logistics from China to Canada, were delivered to the consignees “without a hitch,” ZIM reported in an announcement about its breakthrough. Wave’s application is free for shippers, importers and traders and requires no information-technology or operational changes.

Source: Manila Times November 24, 2017 16:07 UTC