ZIM says that it has completed a successful pilot of paperless trade based on blockchain technology
The first pilot of paperless Bills-of-Lading based on blockchain technology was completed in cooperation with Sparx Logistics and Wave Ltd. 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."
ZIM Integrated Shipping Services is pioneering the new solution following a long market analysis. ZIM is convinced that blockchain technology and the Wave application can be the solution that will drive the trade to the digital era.
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 said: “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.