The international standard for blockchain electronic bill of lading involving COSCO Shipping Group, a subsidiary of COSCO SHIPPING, has passed an important stage review
As a globally renowned shipping company, COSCO Shipping actively anchors the two major tracks of digital supply chain and green and low-carbon development, focusing on the vision of "accelerating the construction of a world-class shipping technology enterprise", and continuously enhances its core competitiveness by exploring and applying cutting-edge technologies. COSCO Shipping Container Transport Co., Ltd., a subsidiary of COSCO SHIPPING, has been developing and applying blockchain electronic bills of lading since 2020. Adhering to the customer-centric concept, it combines digital technology with customer needs and continues to promote the practical application of blockchain electronic bills of lading. As of now, over 350000 electronic bills of lading have been issued and circulated on the GSBN blockchain platform.
ISO5909 project
ISO5909 mainly solves the problem of how to replace paper-based circulation of ocean bills of lading as property rights certificates through electronic means, standardize the digital circulation process and data semantics, and fill the gap in international standards in terms of the role of electronic bills of lading as property rights certificate circulation process and blockchain technology. To provide normative guidance and standard basis for the issuance, circulation, return and other operations of electronic bills of lading for sea transportation through blockchain based systems, in order to promote the application and promotion of blockchain electronic bills of lading, and provide a trusted digital foundation for paperless and further convenient international trade.
Since 2024, the project team has actively shared practical experience and professional knowledge with domestic and foreign experts through 28 online and offline meetings. They have revised over 10 versions of project documents, discussed and improved standard preparation for more than 500 data points and 3000 data units. Finally, with the collective efforts and support of the TC154 committee and JWG9 working group, a milestone progress was achieved.
On November 22nd, ISO 5909 "Business process and data exchange of DLT based electronic Bill of Lading" passed the Committee Stage review stage and completed the fifth stage Inquiry Stage (DIS: Draft International Standard) registration, becoming an important milestone for this standardization project. Subsequently, 5909 will complete the final draft of the International Standard for the sixth phase based on the opinions collected publicly in the fifth phase, and form the final international standard to be issued.
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