Fracht AG goes blockchain with the 1st fully digital, paperless and secure original Bill of Lading solution

Fracht AG together with CargoX, the producer of an electronic blockchain-based Smart Bill of Lading solution, is providing a platform who let companies issue and handle original Bills of Lading on the Ethereum blockchain network, facilitating the digital transfer of ownership of the Bill of Lading and thus the related assets from Issuer, to Shipper, to Consignee, to Selease Agent.

How it works?

Key benefits:

Security:
No central storage that can be attacked by hackers. The B/Ls are encrypted and securely written on the blockchain network, accessible only with traders' private keys.

Cost reduction:
Our blockchain solution is taking cost out of the process per each Bill of Lading.

Fast delivery:
Smart B/L’s are immediately available to the exporters. When agreed upon conditions are met, the Smart B/Ls are transferred to the legal owner of goods instantly, eliminating the courier in the middle. The fast delivery minimizes the possibility of detention and demurrage charges due to missing B/L.

Tracking:
Every transaction is traceable. The sequence of events is clearly defined and forever written on the blockchain network. For example, you can easily check whether the release agent released the cargo before receiving the original B/L.

Contacts:
Basel/Zürich:

Sandro Leuenberger
+41 61 287 98 29
s.leuenberger@frachtag-bs.ch

Ralph Gisler
+41 44 308 91 65
ralph.gisler@frachtag-zh.ch