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Blockchain Bills of Lading

Authors: Elson Ong;

Blockchain Bills of Lading

Abstract

The advent of blockchain technology will, in future, usher in a long-awaited shift away from paper bills of lading. Several maritime hubs, including Singapore, are exploring the possibility of digitalising trade and maritime documentation, such as bills of lading, using blockchain technology. However, there is still considerable uncertainty concerning the legal value of blockchain bills of lading, as with other electronic bills of lading. This paper analyses why electronic bills of lading on the registry model are not suitable for use as bills of lading in Common Law jurisdictions and discusses the suitability of blockchain bills of lading. The adoption of the MLETR may provide a legal regime for blockchain bills of lading. Key articles of the MLETR are considered, leading to a proposal for an amended version. This will entrench a sustainable, resilient and robust framework that will prepare Common Law jurisdictions for the new technological age in the shipping industry.

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Powered by OpenAIRE graph
Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
3
Average
Top 10%
Average
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