DCSA Report Highlights Legal and Regulatory Barriers to eBL Adoption
The Digital Container Shipping Association (DCSA) has recently released a report that delves into the legal and regulatory barriers hindering the adoption of electronic Bills of Lading (eBL). The report, titled “Legal and Regulatory Barriers Report,” examines the legal frameworks of 15 countries, representing a significant portion of global trade, to identify obstacles to full eBL adoption by 2030 and propose strategies to overcome them.
According to the report, the commitment of DCSA and its nine ocean carrier members to achieve 100% eBL adoption by 2030 highlights potential cost savings and sustainability benefits. However, several barriers still exist, with legislation and government procedures posing significant challenges to the widespread use of eBLs.
With the support of international law firm Baker McKenzie, DCSA conducted research to pinpoint these legal and regulatory barriers and provide recommendations for legislators and governments on how to accelerate digitalization across global trade. The report reveals that while the use of eBLs is possible in all surveyed jurisdictions, various barriers and uncertainties persist, hindering their widespread adoption.
The report also highlights the regulatory environment surrounding eBL adoption across the world. Countries like Japan, Singapore, and China have implemented best practices that allow for the full use of eBLs under clear conditions, while others, such as Canada and the United States, still have regulatory requirements that necessitate the use of paper documents.
In an exclusive interview with SAFETY4SEA, Bertrand Chen, CEO of GSBN, emphasized the benefits of eBLs, noting that the majority of Bill of Lading documents are still paper-based. Chen highlighted the potential of blockchain technology to revolutionize the shipping industry by enabling the seamless transition to electronic documentation.
Overall, the report underscores the importance of overcoming legal and regulatory barriers to achieve 100% eBL adoption by 2030. Stakeholders are encouraged to embrace digitalization and leverage existing solutions to maximize the potential of eBLs in global trade.
