Is Blockchain Technology Delivering an Efficient Framework for Electronic Bills of Lading?

This article explores the potential of blockchain technology to provide an efficient and legally compliant framework for electronic bills of lading (eBLs). It evaluates the technical, operational, and legal features of blockchain systems, focusing on their capacity to overcome the limitations of earlier digital documentation models. Through decentralised consensus, cryptographic security, and immutable ledgers, blockchain ensures trust, transparency, and document integrity without reliance on centralised intermediaries. The analysis also examines the role of smart contracts in automating performance obligations and assesses the compatibility of blockchain with the UNCITRAL Model Law on Electronic Transferable Records (MLETR), particularly in relation to uniqueness, exclusive control, identification, time/place indication, and integrity. The article concludes that blockchain-based eBLs not only satisfy the MLETR's functional requirements but also enhance the commercial reliability and legal certainty of maritime trade documentation.