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The digitization of trade documents progresses. One of the most important trade documents is the bill of lading, or B/L, which is subject to approaches in the scientific community and industry alike. Even though B/Ls have been represented using blockchain technology, no classification of B/Ls in the context of tokens has been undertaken prior to this work. An analysis of existing blockchain-based B/L representations was conducted to transform the implicit knowledge about such tokens into explicit knowledge. Based on deductive argumentation, B/L tokens were classified as asset tokens, a specific type of utility tokens. Further, the possible combination of B/L tokens in the token economy is discussed. It is shown that current industry approaches aim for a platform model to dominate the market, contradicting ideas from the token economy. Based on the presented discussion, possible benefits for a taxonomy were identified for future analysis of trade documents in general.



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