Smart Contract Solution
What is Smart Contract Solution?
The i-telemetry solution represents a contemporary approach to safeguarding goods’ titles. It harnesses the capabilities of IoT and blockchain technology to eradicate the potential for contract manipulation or alteration. Smart sensors installed within the goods containers function as intelligent agents, continuously overseeing parameters such as real-time temperature, relative humidity, location, and various other criteria in alignment with the smart contract. In the event of any breach of the contract, all relevant parties receive instant notifications.
Applications of Smart Contract Solution
Electronic Bill of Lading Advantages
The i-telemetry IoT smart contract solution represents a groundbreaking advancement in addressing the limitations of conventional trading practices. By integrating End-to-End IoT connectivity with blockchain technology, it offers real-time monitoring of cargo status and aligns it with the parameters outlined in the smart contract. This innovative solution guarantees the equitable execution of intelligent trade contracts, including the electronic Bill of Lading.
Guarantee Cargo Safety
Prevent Cargo Damages
Ensure Full Compliance of BoL Terms
Reduce Working Capital
Improve Visibility into Your Supply Chain
Digitize Your Shipping Contracts
Reduce Operational Overheads
Eliminate Manual Processing
Realize Rapid Insurance Claims
Problem with Current System
I-telemetry contracts are bearer documents of title, and due to their possession-based ownership, the holder of the contract is presumed to have primary ownership of the goods. The tangible nature of i-telemetry contracts can result in distribution delays. Traditional shipping contracts can be susceptible to manipulation to conceal responsibility for cargo damage or other problems.