Open eBL

📃 Paper bills of lading have significant drawbacks compared to e-bills of lading. Here are some of the main downsides: 🐢 Slow and Inefficient: Paper bills need to be physically transported, which can cause delays, especially compared to the speed of modern shipping. 🔴 Prone to Errors and Fraud: Paper documents are susceptible to human error, and they can also be lost, stolen, or even forged. 💰 High Administrative Costs: There's a significant cost associated with printing, handling, and securing paper bills of lading. Explore the benefits of e-bills of lading ➡️ openebl.com. #BillsofLading #DigitalTransformation #eBL

Learn why an open-source infrastructure is essential to secure widespread adoption of e-bills of lading. https://openebl.org/about/

The transition from traditional paper-based bills of lading (B/L) to e-Bills of Lading (eBL) marks a significant milestone in the modernization of global trade. Download DSCI's whitepaper to learn how eBLs can benefit your digital supply chain. https://bit.ly/43T36LL #GlobalTrade #DigitalSupplyChains #EBLs

Open eBL’s architecture is a distributed ledger with enterprise security and privacy that provides: 🛡️ Secure credential exchange between organizations based on proven Public/Private Key Infrastructure for data integrity and authenticity 🔎 Immutable protocols for full eBL traceability and accountability 🔏 Encrypted documents and cryptographic signatures Join the movement to advance Open eBL - openebl.com.

Open-source e-bills of lading provide significant benefits to consignees that use "free on board" shipping. Learn more at openebl.org.

Open eBL’s architecture creates an ecosystem of interoperability, enabling organizations to connect their existing third-party eBL solutions to the Open eBL protocol to gain a common data storage and transmission layer capable of minimizing the time and cost expended on working with siloed data. Learn more at openebl.com. #EBL #BillsofLading #DigitalTransformation

According to McKinsey & Company, the bill of lading accounts for between 10% - 30% of total trade documentation costs; adopting an e-bill of lading (eBL) could save $6.5 billion in direct costs and enable up to $40 billion in new global trade volume. https://mck.co/3SNLHOr Learn more about #eBLs potential impact ➡️ https://bit.ly/3VmzmVk.

Technology expert Irving Wladawsky-Berger outlines the limitations of paper-based bills of lading (B/L) in global trade and the potential of e-bills of lading (eBLs) to address them. “Current trade documentation spans many documents and processes and is a manual, time-consuming, and resource-intensive process for all stakeholders. Documentation for a single shipment can require up to 50 sheets of paper that are exchanged with up to 30 different stakeholders. The bill of lading, issued by carriers to acknowledge receipt of cargo from the shipper, is one of the most important trade documents required for shipping.” https://bit.ly/3zc4uOk

The ICC suggests at least 1% of transactions in the #globaltrade financing market, or around $50 billion per year, are fraudulent. Digitizing #billsoflading is a big step for reducing this fraud. openebl.org #TradeFraud #eBL

"An e-bill of lading could save $6.5 billion in direct costs and enable $40 billion in global trade," reports McKinsey. DSCI's Open eBL initiative creates open-source standards for digitizing bills of lading. Learn how in DSCI's new whitepaper. https://bit.ly/43T36LL #GlobalTrade #ebl #BillsofLading