Blockchain – International Trade


Blockchain technology will
revolutionize international trading
SAP is demonstrating how
different parties can save time and
money through digitized
accelerated processes.
In international trade it’s not just the
seller and buyer involved. there are banks
insurers carriers freight
forwarder agents brokers and
you can be sure there will be authorities
involved today parties exchange data and
documents in an isolated peer to peer
manner there is no consistent view of
the process or document versions individual
interfaces between partner systems
are costly, manual handling of paper
based documents is inefficient and
delivering paper documents via
express courier services
adds another significant cost factor.
Blockedchain for
ocean shipping resolves these issues and
delivers joint benefits for all parties
in the business network block chain for
ocean shipping can be operated by SAP Cloud
Platform Blockchain Service
the various parties can use a cloud
application to access the blockchain or
connect any system via web services
the trade is documented and
involved parties are invited and enrolled
relevant documents like the letter
of credit are shared and
signed electronically the shipment process
is managed jointly the shipper submits
documents relevant for export customs
once customs clearance status is received
the ocean carrier posts the bill
of lading here for instance from SAP’s
transportation management system.
Using a mobile app electronic
documents can be digitally signed
the ownership of a bill of lading is
securely transferred banks insurers and
buyers always have a clear
picture of what’s going on
at the destination country it’s
about import customs clearance and
getting the container released
from the port of discharge.
SAP’s highly secure container
release process includes Mobile QR
code scans, two factor authentication and
a check against the block chain
based entitlements. blockchain for
ocean shipping aims to establish
a new level of security trust and
transparent it transforms ocean
shipping processes enabling digital
document sharing signing and approval
in short this new solution brings cost
savings time efficiency as well as the
elimination of fraud and stolen freight.
SAP is working in close cooperation with
customers in a co-innovation model for
this new solution. to find
out more contact SAP
through sap.com/blockchain

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