Lloyd's Shipping & Trade Law
A uniform law for identity management and trust services
The current era is marked by a reliance on new technologies fuelled by data. Human beings and machines are producing data at an unprecedented pace that is reused and analysed in novel manners, including with the use of artificial intelligence. Aggregation of data has become so common that it has its own name: big data. The shipping industry is also undergoing digital transformation. The use of electronic bills of lading is significantly increasing, with benefits not only for shipping operations but more generally for supply chain management and resilience.
Moreover, electronic bills of lading are a source of valuable data for single windows for customs operations, thus allowing
integration between commercial exchanges and exchanges with regulatory authorities. However, it is not enough to have big
data: the data must be fit for purpose. It is therefore necessary to provide assurance of data quality such as origin, timing
of a certain action and integrity. Online services that provide assurance of data quality are called "trust services".