The True Cost of Paper in Global Shipping vs. Blockchain-based Verifiable Credentials

Every day, tens of millions of containers move across oceans, borders, and ports, powered by a paper-based logistics engine that has remained largely unchanged for decades. Bills of lading, customs declarations, invoices, certificates of origin – these documents, often printed multiple times for different parties, account for an astonishing share of global trade costs. It’s estimated that shipping documentation costs amount to 15-20% of the $19 trillion annual global trade value, largely due to inefficiencies and redundancies in paper processing (Loklindt et al). 

That translates to upwards of $3.5 trillion annually, much of which is rooted in systems reliant on paper printing, handling and verification. One estimate highlights that document-related bottlenecks alone can delay shipments by up to 10 days and incur redundant printing costs running into hundreds of millions globally (Narayanam et al). 

Contrast this with digital verifiable credentials (VCs) stored on decentralised blockchain networks. These credentials – digitally signed and hashed – offer instantaneous verification, cryptographic security, and immutability. In global trade, VCs can represent bills of lading, licenses, or certificates of origin, eliminating both print and courier costs. For example, a blockchain-based document verification system can reduce costs by 30–50% by removing the need for intermediaries and manual validation (George & Al-Ansari). 

The cost of issuing and storing a credential on a blockchain varies, but it typically ranges from fractions of a cent to a few cents, depending on the network used (e.g., Ethereum L2 vs. private consortium chains). These marginal costs are vastly outweighed by savings in operational efficiency, fraud reduction, and elimination of paper (Al Hemairy et al). 

Further, innovations in decentralised identity frameworks – like DID (Decentralised Identifiers) and W3C-compliant VCs – allow each actor in the supply chain to control, share, and verify credentials without needing to print, scan, or re-enter data (Mazzocca et al). This standardisation offers a path toward interoperability across trade platforms and national borders. 

In a proof-of-concept pilot, a shipping blockchain implementation cut down paper usage by over 90% and shaved 20% off processing time while increasing trust in the document chain (Elmay et al). When scaled, this could significantly reduce emissions from paper production, decrease fraud risk, and transform how the world moves goods. 

In conclusion, the analogue cost of global trade documentation is staggering – upwards of trillions annually when paper and inefficiency are accounted for. Blockchain-powered verifiable credentials offer not just cost reduction but a reinvention of trust, transparency, and speed. The next generation of trade won’t just be digital – it will be verifiable, decentralised, and paperless. 

Michael Whittington

26 August 2025