eTEU

eTEU is solving the issue of inefficient, paper-based documentation procedures in international trade, which cost businesses globally more than $200 Billion every year. We are enabling paperless management of international shipment, using blockchain technology to ensure trust between members of the supply chain and automating repetitive bureaucracies such as document drafting. Users can simply upload or generate documents on the platform, as well as manage the necessary documentation under shipments, and then transfer the documents in a secure blockchain-based environment. All of the transactions are stored on the blockchain for an immutable audit trail. The original versions of the documents can be transferred as digital assets, thus not risking any exploitation of the documents themselves.

Existing solutions are expensive and require complicated implementation. Small and medium sized businesses lack both technical expertise and budget to use them. eTEU is the first blockchain based trade documentation platform suitable for small and medium sized companies. Our unique system architecture allows our solution to be used as a simple web application, we are 10 times cheaper than current state of art and on-boarding takes minutes instead of weeks. eTEU runs on a public blockchain network and is the first solution on the market that utilises the non-fungible token technology to create unique digital assets that can be used as documents – this approach allows users to create and transfer original versions of the documents, just the same way as they would with paper-based documents, and create immutable audit trail, that can also be tracked in case that is needed.

Even in the 21st Century, international trade heavily relies on paper documentation. Documents are still issued in the paper format and transferred using courier post. This is a huge issue which according to the World Bank, costs businesses globally more than $200 billion every year. eTEU is solving this issue by enabling paperless management of international shipment, using blockchain technology to ensure trust between the members of the supply chain and automating repetitive bureaucracies, such as document drafting. Using digital assets allows users to maintain an immutable trail when it comes to transaction history, thus any risk involving exploitation of the document transfer history is removed. Furthermore, documents today can still be at risk of delays, however using a digital method reduced the possibility by using the blockchain technology to facilitate the transfer of documents. eTEU has allowed companies to reduce risks, costs and save time.