We understand that CIS market is a high-risk area, so we want to help our partners (banks, suppliers, customers) to mitigate some of the risks. One of the major risks and complains from the banks and off-takers are the fake shipping and port documents (Forwarders Certificates of Receipt) that are provided to either financing banks or off-takers.

We see that the survey companies don’t provide the service of verifying FCRs if they are pledged (sold) to other counterparties. Currently this solution lacks on the market. We have an extensive knowledge and experience in working with port authorities, customs and we know how to obtain and structure required information.

By year end 2018 we aim to launch a web-based data base on the block chain technology, where the users of that system can verify the nature of the cargo stored at the port, any contractual obligations regarding that cargo and vessels that are nominated for it.

We closely collaborate with port authorities, shippers, stevedores, agents and customs agents. Our data will be linked to the databases of authorities in different countries and jurisdictions to provide safety and security for the customers.

By 4Q 2018 we will be preparing technical whitepaper for the process and presentation for the potential investors and users.