Real-time Bill of Lading leveraging Blockchain


Challenges

  • Need to checked and reviewed byseveral parties; BL might get lost in the mail
  • Inefficiencies of checking contents of good
  • Increase in fraud – terms and conditions may be seen by unauthorized party
  • Incidents such as loss of document are common reasons of delay.

Our Solutions

  • Shipper books vessel slots/cargo with carrier / shipping line.
  • Shipper and carrier negotiate the terms and conditions. Once it is finalised, carrier to issue the e-BL.
  • Shippers transfers the e-BL to consignee.
  • Vessel arrives at discharge port, consignee transfer e-BL to release agent in order to clear and collect cargo.

Benefits

  • Improved turnaround time atleast 5 to 7 days.
  • Reduce the inefficiencies of trade documentation.
  • Ensure that the e-BL is tamper-proof.
  • Instantaneous transfer of e-BL.
  • Eliminate duplication and fraud.
  • Easier and hassle-free way to checking contents of goods.
  • Improve cost efficiency and transparency in the transfer $50 vs $10.