Today WAVE BL, the blockchain bill of lading platform, announced that it has processed more than 100,000 electronic bills of lading (eBLs) in the first three quarters of 2022. The company says it has experienced 12% quarter-over-quarter growth.
When a container ship loads goods, the ship provides a bill of lading which determines who has legal title to the cargo. This document is used to raise trade finance from banks and other credit firms.
WAVE BL has relationships with several large container shipping firms, including MSC, ZIM, ONE and Hapag Lloyd. But we’d hazard a not-so-wild guess that MSC accounts for a major proportion of the 100,000 eBLs.
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