A Collaboration That Elevates Efficiency, Security, and
Compliance in Global Trade
BASEL, Switzerland, and
WILMINGTON, Del., July 11, 2024 /PRNewswire/ -- A new collaboration
announced today between the Global Legal Entity Identifier
Foundation (GLEIF) and WaveBL has unlocked new opportunities for
the global maritime industry to increase operational efficiency,
enhance security, and reduce the burden of regulatory compliance.
These benefits have been realized through the digital
transformation of electronic Bills of Lading (eBLs) and related
trade documents.
WaveBL is a leading blockchain-based platform for digitizing
electronic trade documents. Its growing global network is designed
to facilitate the fast, efficient, and cost-effective transmission
of eBLs globally. By Introducing the Legal Entity Identifier (LEI)
with its digital counterpart, the verifiable LEI (vLEI), WaveBL is
aiming to obtain and utilize accurate, verified digital identity
data of the shippers, consignees, and other legal entities engaged
in the movement of goods around the world.
WaveBL CEO Noam Rosenfeld
comments: "The integration of the LEIs into our platform represents
a monumental step towards achieving a seamless digital trade
environment. 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."
Alexandre Kech, CEO of GLEIF,
comments: "By introducing LEIs and vLEIs into its platform, WaveBL
is expected to enhanced the speed, accuracy, and reliability of its
digital identity verification, fostering greater interoperability
and security in global trade. By integrating the LEI into digital
supply chain systems, enterprises are not only increasing
efficiency and reducing the costs of paperwork but also equipping
their industry with the tools needed to fight fraud and other forms
of financial crime. I applaud WaveBL's efforts and am excited to
see our collaboration continue as the vLEI ecosystem continues to
gather momentum around the world."
About the Global Legal Entity Identifier Foundation
(GLEIF)
Established in 2014 by the Financial Stability Board, the Global
Legal Entity Identifier Foundation (GLEIF) in Basel, Switzerland, oversees the
implementation of the Legal Entity Identifier (LEI) and its digital
counterpart, the verifiable LEI (vLEI). GLEIF manages a global
network to provide trusted services and open data for legal entity
identification worldwide, offering free online access to the global
LEI database under an open data license. Governed by the Regulatory
Oversight Committee, GLEIF promotes diversity, inclusion, and
operational excellence with a staff representing over 20
nations.
For more information, visit the GLEIF website at
https://www.gleif.org/en.
About Wave BL
Wave BL is the leading platform for digitizing electronic trade
documents, offering an innovative solution for the global trade
industry. Focusing on accuracy, security, and interoperability,
WaveBL is transforming the way businesses handle trade
documentation.
For more information, visit the WaveBL website at
www.wavebl.com.
Relevant Links
https://www.gleif.org/en
www.wavebl.com
Media contacts:
James Kemp
james@iseepr.co.uk
Ilan Weiss
EVP Marketing, WaveBL
ilan.weiss@wavebl.com
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