Research on the Legal Effect and Judicial Challenges of Smart Contracts in Logistics Electronic Bills of Lading

Abstract

In the trend of the integration of global trade and digital technology, the problems of traditional paper bills of lading have become prominent. Smart contracts provide technical support for the innovation of electronic bills of lading. Based on the practices of enterprises such as COSCO Shipping, this paper explores the legal effect, judicial challenges, and related practical dilemmas of smart contracts in logistics electronic bills of lading. Smart contracts, relying on blockchain technology, possess characteristics such as immutability, serving as property rights vouchers, and automatic execution. They meet the provisions of the Civil Code of the People’s Republic of China on contracts and have legal effect. Enterprises like COSCO Shipping actively promote the application of electronic bills of lading, and international enterprises also have corresponding practices. However, smart contracts face challenges in judicial determination, including difficulties in the application of procedural laws and disputes over the property rights voucher attribute in substance. Additionally, there are major difficulties in technical implementation, such as industry collaboration barriers and technology adoption obstacles, as exemplified by the suspension of projects by leading enterprises. In the future, development should be promoted from aspects such as technical optimization, improvement of the legal framework, and construction of an industry - collaborative ecosystem to drive the digital transformation of the shipping industry.