Are We There Yet? The long road to an e-Bill of Lading may be coming to a conclusion

Abstract

Bills of Lading are one facet of the trading information infrastructure that has resisted the digitized efficiency commonplace elsewhere. The authors suggest that technological advances, coupled with a favorable legal environment, can now eliminate that resistance and make true, transparent, and secure electronic bills of lading (eBLs) systems possible. Non-fungible tokens (NFTs), using an appropriate distributed ledger technology (DLT), can function as an efficient and effective electronic bill of lading system (eBL). This technology, together with the 2022 proposed amendments to the Uniform Commercial Code and the 2003 amendments to Article 7, have coalesced into a situation where the end of the journey to develop universally acceptable eBLs may be at hand.

Department

Law

Subject

Uniform Commercial Code

Publication Date

2023

Journal Title

Uniform Commercial Code Law Journal

Publisher

Thomson West

Document Type

Article

Additional Information

The UCC Law Journal is a commercial journal available on Westlaw.

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