eBL

BlockPeer enables businesses to create and manage Electronic Bills of Lading (eBL) seamlessly, bringing the entire Bill of Lading process onto the blockchain. By utilizing the TradeTrust framework, the eBL created through BlockPeer is verifiable, transferable, and can be used for financing.

Why Use eBL?

• Efficient Operations: The entire Bill of Lading process is streamlined digitally, eliminating delays caused by paper-based processes.

• Verifiable and Transferable: eBLs created on the blockchain can be verified and transferred/endorsed securely to other parties, such as financiers.

• Quicker Financing: The eBL can be easily used for financing purposes in the BlockPeer Trade Finance Marketplace (BlockPeer Cliq).

• Surrender to Shipper: Just like physical Bills of Lading, the eBL can be surrendered to the shipper, ensuring swift and authenticated handovers.

Steps to Create an eBL

1. Navigate to the eBL Creation Page

• Go to eTrade -> Transferrable Docs -> eBL.

2. Prerequisites:

• Ensure your MPC wallet is connected to the BlockPeer platform.

• Confirm that your MPC wallet has sufficient native tokens to pay for gas fees when writing the eBL hash to the selected blockchain.

• Your organization's DNS must already be mapped for transferrable documents (refer to the DNS Mapping for Transferrable Documents guide).

3. Create an eBL

• Click on the + icon located in the top right corner to begin creating an eBL.

• Fill in the required information, including:

  • Shipper details

  • Consignee details

  • Description of goods

  • Vessel information

  • Shipment details (loading and discharge ports)

  • Other relevant Bill of Lading information

• Once all the necessary information has been entered, click on Create eBL.

4. Download eBL Files

• Once the eBL has been successfully created, two file formats will be available for download:

  • PDF: This is a document version of the eBL for your internal records or physical sharing if needed.

  • TT File: This file contains the verifiable hash of the eBL, ensuring that it is tamper-proof and verifiable on the blockchain.

5. Verifying the eBL

• To verify the authenticity of the eBL, download the TT file and:

  • Use the BlockPeer Verifier at https://verifier.blockpeer.finance/

  • Alternatively, use the TradeTrust verifier at https://ref.tradetrust.io/.

By uploading the TT file on either of these verifier platforms, you can confirm the authenticity of the eBL.

6. Transferring or Endorsing the eBL

• The eBL can be transferred or endorsed to financiers or other parties for financing purposes or further trade operations.

  • This operation can be completed digitally through the BlockPeer platform, ensuring fast and secure document transfer.

  • The financier can verify and accept the eBL for financing, streamlining trade finance processes.

7. Surrendering the eBL

• The eBL can be surrendered to the shipper, allowing the shipper to take action on the goods as per the shipment's legal requirements.

  • This can be done swiftly through the digital platform, reducing the time and errors typically associated with physical Bills of Lading.

Benefits of Using eBL

• Fast, secure, and paperless: No need to deal with physical paper trails that are susceptible to delays and errors.

• Seamless integration with trade finance: Transfer the eBL to financiers with ease for quick access to trade finance.

• Blockchain-based verification: Ensure the authenticity and integrity of the eBL using blockchain, reducing fraud and disputes.

• Global recognition: As an integrated TradeTrust partner, BlockPeer ensures your eBL is globally verifiable and recognized.