The Global Legal Entity Identifier Foundation (GLEIF) and WaveBL have announced a new collaboration to improve the accuracy of digital identities for users of electronic Bills of Lading (eBLs) and related trade documents in the maritime industry.
WaveBL’s blockchain-based platform for digitising electronic trade documents is already used by shipping companies including container carrier MSC. The company is partnering with GLEIF to introduce a digital counterpart for the Legal Entity Identifier (LEI), a verifiable LEI (vLEI), to improve users’ ability to obtain accurate, verified digital identity data for shippers, consignees, and other legal entities engaged in the movement of goods around the world.
“The integration of the LEIs into our platform represents a monumental step towards achieving a seamless digital trade environment,” said WaveBL CEO Noam Rosenfeld.
“By ensuring the accuracy of digital identities, we are enhancing trust and transparency within our network and setting the stage for global interoperability. However, enabling automatic verification of digital credentials is a prerequisite in this regard.”
“Currently, WaveBL handles verification processes on a platform level. As WaveBL is in search of a globally accepted standard, we have found that, the introduction of vLEIs could radically streamline this process by providing a trusted automated and universally accepted solution for verifying companies’ digital identities worldwide.”
