The first pilot of paperless
Bills-of-Lading based on blockchain technology was completed in cooperation
with Sparx Logistics and Wave Ltd. The pioneering pilot, first of its kind led
by an ocean carrier, was concluded successfully, says a release on 20th Nov.
During the trial all participants issued, transferred and received original
electronic documents using the Wave Application; the Containers, shipped by
Sparx Logistics from China to Canada, were delivered to the consignees without
a hitch. An electronic substitute to the traditional Negotiable Ocean
Bill-of-lading has been the industry’s Holy Grail for many years. ZIM
Integrated Shipping Services is pioneering the new solution following a long
market analysis; ZIM is convinced that the blockchain technology and the Wave
application can be the solution that will drive the trade to the digital era.
The new solution allows the secure exchange of original documents on the
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. ZIM CEO Eli Glickman: “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 CIO Eyal Ben-Amram said: “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.”
Wave CEO Gadi Ruschin: “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”