e-title™ is patented, peer-to-peer technology that enables the creation and transfer of title and negotiable documents, such as the bill of lading. As peer-to-peer technology, e-title™ works equally well in the back office of a carrier, bank or multinational company as it does when provided by an Application Service Provider(ASP) for Small and Medium Enterprises (SMEs).
e-title™ complements existing Supply Chain, Trade Documentation and Financial Supply Chain applications by focusing exclusively on the electronic title creation and negotiation. This fills the gap in current trade documentation services – enabling full electronic trading, documentary credits and collections, and release of goods – without overlapping with functionality already available in the market
The e-title™ solution combines title document functionality with digital signatures that enable secure transfer during negotiation. These components run on tamper-proof hardware, known as a Hardware Security Modules or HSMs that prevents alterations or forgery of a title document when it is in the possession of the shipper, bank or importer.
Functionality
The e-title™ software provides the full functionality required to create, transfer and surrender bills of lading electronically. It covers endorsement records, enables amendments, such as splits and switches, and also facilitates secure printing where electronic-paper hybrids are required.
Digital signatures
e-title™ uses industry-standard digital signature technology as the means to secure electronic titles transferred between e-title™ peers. The use of digital signatures ensures that e-title™ manages the transfer of titles to the appropriate party and that the bill of lading data is immune from forgery or changes.
Hardware Security Modules
Hardware Security Modules are tamper-proof computers that prevent technical or physical access to stored data and software code.
e-title™ uses HSMs to protect the application but also to store the electronic title “state” – whether the bill of lading is active or has been transferred to a new Holder. By using HSMs, e-title™ prevents double trading – using the same electronic title more than once, for instance to negotiate a single letter of credit with two different banks.