Wave targets banks for eBL take-up after funding round

Wave BL, a blockchain-based digital courier platform, has raised US$8mn in a series B funding round, which it will use to boost take-up of its electronic bill of lading (eBL) solution among banks. The investment comes from container line ZIM – which is already an investor in Wave – and Israeli entrepreneur Marius Nacht, and the proceeds will be used to support the further implementation of Wave’s blockchain-based technology beyond carriers. “We are seeing growing interest from others in our sector to adopt [Wave’s] platform, reflecting the significant benefits it provides to both customers and carriers,” says Eli Glickman, CEO of ZIM. “This new investment in Wave BL is a step forward in the path to a more digitised and sustainable future.” Wave’s distributed ledger network uses blockchain technology to enable parties to issue, exchange and sign a variety of supply chain encrypted documents with no need for a central server or registry. It completed the world’s first live blockchain trade transaction with Barclays in 2016, and since then it says that it has signed up five shipping carriers which jointly represent 40% of the world’s container shipping supply chain. “Wave is a network, and we are working to achieve the network… continue reading

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Source: CTRM Center

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