eTEU connects all members of the supply chain to a decentralised network, which is based on a publicly distributed ledger and allows parties to communicate directly, thus significantly reducing administrative costs.
The platform will integrate Blockchain technology to exchange information and documents from freight forwarders and multiple parties to provide an efficient, safe, secure and easy to use system.
Customers will be able to input their own data and when the cargo is collected and chain of custody starts then the e-bill smart doc with be automatically activated. As the cargo flows through the supply chain the e-bill will automatically interact with all the stakeholder such as customers, carriers,banks and ports within the value chain.
Smart contracts will transform global trade by streamlining the shipping process and significantly decrease shipping time and administrative expenses.
A combination of smart contracts and such trade documents as Bill of Lading, Certificate of origin, GDB examination certificate, export customs entries C88, import VAT certificate C79, EXA export document, IM4 import document, collection notes, delivery notes, T1/T2/T2L/T2F and T2LF on eTEU platform will allow freight shippers to automate mundane tasks and will speed up the flow of information across the supply chain.
eTEU is a startup that works on documentation process optimisation and digitalisation in the container shipping industry. We aim to make documentation as simple as possible, thus allowing a company to excel at operating in the industry. The system will be an independent open customer platform which will be focused on the freight forward market providing paperless trade facilitation.Meet the team
With the Economy of Things and blockchain infrastructure being developed it is estimated that this could generate over $1 trillion in trade. The costs related to trade documentation processing and administration are estimated to be roughly one-fifth of actual physical transportation costs. Even establishing the authenticity of such documents can prove frustratingly difficult. We aim to make this process more user-friendly, accessible and efficient for companies looking into establishing themselves in the industry.