MSC has launched a new digital solution for processing bills of lading online, which will be offered via an independent blockchain platform called Wave BL.
The Swiss-based container line has chosen WAVE BL because MSC believes it is the only solution that mirrors the traditional paper-based process that the shipping and cargo transportation industry is used to.
"This user-friendly solution ensures that all the parties involved in a cargo shipment booking can issue, transfer, endorse and manage the bill of lading electronically through a secure, decentralised network," said André Simha, global chief digital & information officer at MSC, who went on to add, "it provides a digital alternative to all the possibilities available with traditional print documents, just much faster and more secure."
Customers can sign up and start using the service via MSC's website, without any change or disruption to day-to-day business operations, according to the announcement. The WAVE BL platform can be used free of charge throughout 2021 for exporters, importers and traders, while users only pay for issuing the original documents, and they do not need to invest in any IT infrastructure or make operational changes in order to use the service, said MSC.
The Geneva-headquartered carrier noted that the new BL system is an ideal solution during the Covid-19 pandemic, as paperless solutions help to overcome border restrictions, challenges with postal disruptions or other pandemic-related uncertainties.