With the development of blockchain technology, much study has been done on the blockchain bill of lading and its related legal issues. The issue that has attracted the most attention is whether the blockchain bill of lading can function as a document of title. One foremost issue that needs to be addressed is whether being a document of title is still a desired function of a blockchain bill of lading. With its technical advancement, the circulation features of the blockchain bill of lading are different from those of the traditional paper bill of lading. This Article aims to examine the blockchain bill of lading and its function as a document of title by considering its circulation features along with some new developments in legislation. The discussions in this Article show that even when blockchain technology together with a smart contract is applied to the use and transfer of a bill of lading, based upon existing law and practice, it is still desirable for the blockchain bill of lading to function as a document of title.
|Tulane Maritime Law Journal
|Published - Dec 2021