diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 6fb9e773c..a35133c7a 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.3.0
+current_version = 0.3.1
 commit = True
 tag = True
 
diff --git a/docs/source/conf.py b/docs/source/conf.py
index cdd6b2b9b..748d0ddcb 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -30,7 +30,7 @@
 author = 'ocean-lib-py contributors'
 
 # The full version, including alpha/beta/rc tags
-release = '0.3.0'
+release = '0.3.1'
 # The short X.Y version
 release_parts = release.split('.')  # a list
 version = release_parts[0] + '.' + release_parts[1]
diff --git a/ocean_lib/__init__.py b/ocean_lib/__init__.py
index 9cf519296..155dc09e9 100644
--- a/ocean_lib/__init__.py
+++ b/ocean_lib/__init__.py
@@ -1,5 +1,5 @@
 __author__ = """OceanProtocol"""
-__version__ = '0.3.0'
+__version__ = '0.3.1'
 
 #  Copyright 2018 Ocean Protocol Foundation
 #  SPDX-License-Identifier: Apache-2.0
diff --git a/setup.py b/setup.py
index 120070c35..06cc57119 100644
--- a/setup.py
+++ b/setup.py
@@ -97,6 +97,6 @@
     test_suite='tests',
     tests_require=test_requirements,
     url='https://github.com/oceanprotocol/ocean-lib-py',
-    version='0.3.0',
+    version='0.3.1',
     zip_safe=False,
 )