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Using Blockchain, Israel’s ‘Zim’ Eyes Sea Change In Musty Shipping Sector

Haifa-based shipping giant Zim Integrated Shipping Services believes it is about to revolutionize the maritime shipping industry, bringing the blockchain technology to a market that is still tied to 17th century codes and customs.

The shipper has successfully experimented with a blockchain-based “paperless trade tool,” allowing the secure exchange of original documents, the company announced on Monday. The pilot program, calling for an electronic bill of lading — the key instrument of global shipping control — was completed through a collaboration with US firm Sparx Logistics and Israeli startup Wave Ltd. This represents the first test of its kind for an ocean-based shipping company.

The test consisted of three containers being shipped from China to Canada, with US-based Sparx shipping the containers, and Wave having developed the blockchain application.

 

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