GSBN’s electronic bill of lading application obtains approval by the International Group of P&I clubs

An electronic bill of lading (eBL) application built using Global Shipping Business Network (GSBN)’s API has obtained approval by the International Group of P&I clubs.

The IQAX eBL application is one of only a few blockchain-enabled solutions supported by major carriers that have received this approval, marking an important step in connecting logistics with financial institutions as part of the trade finance process.

Bertrand Chen, CEO of GSBN, said: “We are witnessing a once-in-a-lifetime digital leap in the shipping sector. Yet the nature of global trade means the size of the challenge is significant and complex.