Minerva Global, the international almond growing, processing, and importing organization, has recently implemented WAVE BL’s digital document courier service. In doing so Minerva has joined the growing number of global trade companies that are adopting digital technologies to modernize traditional paper-based workflows.
Relying on paper has long had its risks, and this year’s pandemic has only highlighted the fragility of paper-based communications. As a result, 2020 has seen unprecedented advancements in digitization.
In working with WAVE BL — a leader in the digital document courier market — Minerva initiated the world’s first blockchain-based electronic Bill of Lading export transaction from the United States.
This end-to-end digital transaction, in which the eBL and accompanying documents were cryptographically signed and transmitted within minutes using WAVE BL’s platform, is an example of how digital technologies can modernize the regular flow of documents between companies during the international exchange of goods. Other parties to the transaction were ZIM, a leading global shipping carrier, and the final recipient being one of Minerva Global’s key customers. ZIM issued its electronic Bill of Lading for an almond shipment that sailed from Oakland, California to Tarragona, Spain. Minerva, the trader in the transaction, endorsed the Bill of Lading to the customer. The entire transaction was completed in under 24 hours.
Minerva made the effort to digitize its trade workflows in order to streamline its supply chain processes and slash costs. To do so Minerva explored the existing digital communications solutions on the market and decided on WAVE BL, whose platform has been adopted by the world’s largest carriers, banks, and trading companies. As a result, Minerva is able to interface with a wide range of shipping lines via a single platform. Minerva processes hundreds of Bills of Ladings a day, and digitizing its paperwork will trim costs and minimize the risk of human errors, document loss, forgery, and delays.
Ellie Osman, Managing Director of Minerva Global, said, “After twenty years of hearing about the promise of electronic bills of lading and of waiting for a practical way to bring it to life, we have finally been able to make it happen with the help of WAVE BL’s blockchain technology. This is an exciting breakthrough in the path towards our ultimate goal of complete trade digitalization”.
WAVE BL’s CEO, Gadi Ruschin, adds, “We’re excited about the successful cooperation with Minerva. Minerva is creating a new trade standard that will ultimately affect the rest of the market and save the trade industry millions of dollars.”
Minerva’s mission is to offer customers a unique field to fork solution. Minerva brings the customer closer to origin in a vertically integrated, transparent, and sustainable way.
WAVE BL is a blockchain-based digital courier platform that mirrors the traditional process for transferring original paper documents—electronically. WAVE BL’s solution enables instant, encrypted, and authenticated transfer of unique digital documents.