Title documents – such as the bills of lading – play a crucial role in international trade. Because they are negotiable, title documents provide the means by which goods and commodities can be traded and financed.
But they are also cumbersome and costly. As paper documents, they are expensive to transfer. They require manual processing. They can be lost. And they can be forged.
Web bills of lading, offered by many carriers and forwarders, provide a partial solution that cannot be extended to the full trade chain. A Central Registry promise a completely electronic solution but force all parties to use a single database.
What is needed is a solution that provides for a fully electronic bill of lading but also supports an electronic-paper hybrid environment. A solution that is based on peer-to-peer technology rather than a central repository. A solution that is technically secure and legally valid. A solution that complements existing supply chain, electronic trade documentation and financial supply chain solutions. A solution that is open and neutral. WELCOME TO E-TITLE™.