Introduction

Global Trade Platform is a platform which flatten all entities in the global trade eco-system; With HyperChain, all participants are able to work on this integrated digital platform, reducing the heavy paper-work and communication barrier among each entity.

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Pain Points：

Lots of manual Paperwork
Information asymmetry across different entities
Complex, costly peer-to-peer message path
Hard to do risk assessments because of lacked data transparency
High management cost for cargo delivery

Solution Introduction

NSECURED can provide solution to build up GlobalTradePlatform, a platform that connects supply chain networks in the international trade, with following roles to solve the trade issues.

Visible Shipping Process

All shipping process is visible and in real-time validation via GlobalTradePlatform blockchain mechanism is activated to ensure data accuracy.

Followings are the functions of the shipment manager.

· Shipment-Level Search

All information is stored on blockchain which means that members can easily find the cargo and shipment information by its quick search.

· Direct Transport planning

Members can straight forwardedly communicate with the delivery supplier, which highly improves the efficiency.

· Permissioned Network

Built-in PKI mechanism and access control can enhance security.

Digitized Documents

All documents can be digitized and stored to boost data exchange with better document management. Digitalized documents on blockchain can brings :

· Easy document version maintainance and management
· Providence of document validation from different entities
· Smart contract enablement
· Document sharing across different entities

Structured document

Documents with Standardized format

Unstructured documents

PDF files, scanning files and pictures

Smart Contract

Automated workflow via smart contract :

1. Shipper uploads the final packing list to GlobalTradePlatform after packing container.

2. Members can access GlobalTradePlatform to query the packing list, invoices, and related documents which can also be used for custom declaration.

3. All information including documents in different formats stored in GlobalTrdadePlatform ensure their immutability and traceability.

Benefits

Pre-building connections among each entity (ex. Ports, Carriers, Forwarders..), that provides real-time access to more accurate information, making resource dispatch easier.

Better and less risk assessments which is enabled by data transparency, allowing more efficient custom clearance.

Reliable and precise data collection that improve the performance.

Scenario

Buyer and Seller matched on blockchain platform with configured smart contract.
Buyer deposits money in Bank in which Buyer is
Seller ships goods which can be processed via blockchain, integrating forwarder, shipping, export, customs clearance…et.
Seller presents Shipping document which is automatically done via smart contract-based supply chain or alternatively on manual.
Seller’s Bank validates Seller’s document before releasing payment.