Fortuna Docs

The problem The bill of lading is the single most important document in shipping. It is issued when the cargo is loaded in a vessel and contains a detailed list of the products being shipped. Also declares the ownership of the cargo. Whoever owns the original copy of this document can pick up the cargo at the port of arrival. It is shocking, but it has to be physically sent from the exporter to the importer using couriers such as Fedex and UPS. Each year, more than 50 million B/Ls are sent, resulting in 5 billion dollars in courier costs and useless carbon emissions. Our solution Fortuna's aim is to digitize the proof of ownership of Bills of Lading and handle document transfers. We achieve this with the use of hybrid smart contracts that are stored in a secure blockchain, enabling absolute transparency and verifiability of each action at a low cost. Using our platform, shipping companies can issue B/Ls at a low cost and simplify their workflows while avoiding demurrage costs from possible B/L transfer delays.