Interoperability in practice: the OOCL-GSBN pilot and the legal next step for digital trade

The digitalisation of trade has long promised efficiency and transparency. Yet one of the greatest challenges that has persisted is legal, rather than technical, in nature. Despite rapid advances in technology and data infrastructure, global commerce remained dependent on paper-based bills of lading (BLs) because legal frameworks could not recognise their electronic equivalents.

This is because a physical document serves as proof of possession and ownership as physical goods are handed through the supply chain. This principle has remained unchanged for centuries.