Learn more about WAVE and its unrivaled functionality
WAVE supports all types of documents including all Bills, Certiﬁcates and other documents required for trade and trade ﬁnance.
WAVE allows the exchange of all documents for all purposes - documentary credit, collections, receivables are just examples of the trade ﬁnance tools that are supported by the network.
Yes, WAVE mirrors the business process that the industry is used to. Amending a document over the WAVE network works exactly the same as with paper but much faster.
Only the recipient of your documents. WAVE, as a company, has no visibility regarding the envelope’s content. WAVE does not store the documents on its servers.
Yes. During the activation of the WAVE application, the user generates their own electronic signatures that are used to sign, endorse, add signed comments, and surrender electronic documents.
WAVE uses the blockchain to track and manage the originality and title of the documents over the blockchain. The decentralized architecture of the network ensures that any party holding the possession or title of a document has the same level of control as with paper documents.
No, WAVE is designed to allow all parties to keep their exact same workﬂow but in an electronic format.
No, all blockchain addresses are used only once and cannot be linked to the organization behind the address by analyzing the blockchain ledger. Only a document holder can translate those transactions.
All documents transferred between WAVE applications are encrypted using a combination of symmetric and asymmetric keys. Documents are encrypted in a manner such that only the recipient and no one else can decrypt the document
No, each WAVE application stores received and sent documents locally.
No, WAVE, as a company, does not have any access to customer documents.
Upon issuance, the issuer signs the title document with their own private key which embeds a reference of this signature in the issuance blockchain transaction. Each future holder of the document or even an entity that holds a copy of the title document, can verify that the document hasn’t been changed from the issuance by using the public key embedded in the issuers contact and issuance blockchain transaction.
After the surrendering of a document, the issuer has the ability to send a copy of the surrendered document with an added surrender acceptance signature. This signature will be validated only if the possession has been revoked.
A hacker can remove signed copy signatures just like any user, as those signatures are detachable by design. However, a hacker can not modify or remove a unique signature without impacting its validity because unique signatures contain a blockchain reference. A hacker can remove the signature itself but not the blockchain reference.
Yes, the WAVE Core, Transport Agent, and blockchain wallets are highly available. In order to achieve full, high availability, WAVE should be integrated into highly available databases, storages, and queues.
No, but if you wish to become a miner please refer to our operations team
Yes, WAVE contact veriﬁcation is a process which is handled directly between two WAVEusers and its purpose is to verify that the contact you have imported to WAVE is the contact of the user you are communicating with via phone/email/SMS/other communications.
No, when a document is being issued, the only check that is performed by WAVE services is a check to determine if the organization has enough document issue tokens. WAVE never checks the content of the ﬁle before issuance. When transporting an existing document that has already been issued, there is no check by WAVE services upon the forwarding of this document.
The WAVE Bylaws is a legal document that deﬁnes the roles, rights, and liabilities of all users amongst themselves, setting contractual obligations in regards to the issuing of documents or any other usage of the network.
WAVE has been built to fully imitate the rules set in the English COGSA-1992 law. The bylaws are governed by the laws of England giving exclusive jurisdiction to the courts of London, UK.
No, the contract of carriage entered by the carrier is the same one used for paper bills of lading that are governed by the same applicable law and regulation that applies to that carrier. The WAVE Bylaws strictly address the transfer of documents and not any of the commercial dealings between the parties.
As of December 2019, P&I Liability over a WAVE bill of lading is exactly the same as a paper bill of lading, as the International group has fully approved the WAVE network and bylaws.
Exactly the same. Including both the front and back page (the contract of carriage itself). The Issuer is required to add the wording ‘Issued electronically on WAVE’.
As WAVE is based on contractual obligations between all potential parties, there is no need for a state law enabling the use of electronic bills of lading. Nevertheless, such laws wherever they exist, tend to generate awareness which helps viral adaptation. The main obstacle facing digitization is in countries where the customs still require presentation of physical paper bills/ However, this is disappearing more and more as the COVID-19 pandemic persists.
That all parties using WAVE, from the issuer through to the exporter, importer, and banks, all agree to the bylaws with respect to the deﬁnition of an original document on WAVE and not challenge the originality of an issued document on WAVE outside of WAVE in courts.