Legal Issues Arising from Blockchain Technology in Maritime Trade

This book examines blockchain technology in shipping and, more specifically, the approval by the International Group of P&I Clubs of the public blockchain platform, CargoX in February 2020. The shipping industry has made an enormous progress towards blockchain-based bills of lading. However, due to the absence of a relevant legal framework, recognizing the ability of data to perform the same legal functions as paper bills of lading, it is crucial to use blockchain platforms which can achieve the desirable legal outcome. The purpose of this book is to examine the legal contractual framework underlying the blockchain platform, CargoX in order to prove that it indeed accomplishes the performance of the traditional bill of lading's legal functions and that blockchain can pave the way towards the digitalisation of transport documentation.