Global Logistic Blockchain Platform

Enabling ecosystem to connect and execute shipping business transactions

About

LogChain innovative solution provides a safe digital space for the maritime ecosystem including importers, exporters, shipping companies, freight forwarders, banks and ports to easily connect, submit business requests and store transaction information.
LogChain’s platform reduces the manual work overload, improves customer experience and reduces time and cost spent.

LogChain holds a profound understanding of the Maritime shipping industry business logic and is deeply acquainted with the ecosystem. LogChain has partnered with industry leaders to finally streamline the Maritime legacy processes with its “game-changing” solution. 

Opportunity

The Market

The Maritime market is worth over $2 Trillion
(about 80% of the global trade volume, over 70% in value)

Multiple market players: 20-30 parties in each transaction
Average of 8 parties involved in one Letter of credit process

Market growth of 3-4% yearly

Potential

Use Blockchain as a solution to enable  trust and improve SLA 

Potential to digitize  the massive trade volume

Create one secured platform accessible to all parties involved

Streamlining and digitizing shipping transactions for a more efficient process resulting in major cost reduction and improved customer experience 

Industry Pain Points

Maritime shipping heavily depends on old and cumbersome
legacy processes

Current shipping process is pricey and includes endless
paperwork and signatures

Lack of transparency between market players makes it 
hard to establish trust

Long SLAs, pricey processes for commercial disputes,
fraud risk etc.

Digitize Global shipping.
Simplify Trade. 
Reduce time and costs.

Solution

Maritime Logistics & Finance on Blockchain

Current Complex Business Structure

Methods parties are currently using to communicate to each other

  • Phone
  • Fax
  • Courier Service
  • E-mail
  • E-commerce
  • Mail
  • And more…

The Future of Maritime Structure

One single truth. One network connects all. 

Why Blockchain for Maritime Shipping?

    Trusted Collaboration Across
    Market Players

  • Distributed shared Ledger (DLT)
  • Append only
  • Fully audited Information

    Secured & Authenticated 
    Transactions

  • Information is encrypted
  • Transactions are fully private
  • Only permissioned parties can submit,
    edit or approve transactions

    Smart Contract Deployment

  • Business terms embedded
    in transaction ledger
  • Business logic pre-defined by
    using smart contracts

LogChain Offers a Simple Transaction Process

Our Blockchain Based Platform:

  • Streamlines the current
    cumbersome business processes
  • Allows information sharing on
    a private distributed ledger
  • Provides real-time data access
    to all permissioned users
  • Uses Blockchain’s smart contract
    technology to provide a single,
    immutable trade record verified by
    all parties

Product

LogChain leverages Blockchain’s smart contract solution,
together with market business logic to speed up transactions
and reduce costs.

With LogChain, every piece of information is being distributed,
secured and verified so transactions are undoubtedly trusted
and controlled.

LogChain Users

Importers

Exporters

Banks

Shipping Companies

Freight Forwarders

Ports and Authorities

LogChain Modules

Module 1:​

Electronic Bill
of Lading (e-B/L) ​

Services

  • Original B/L
  • Sea way B/L
  • House B/L
  • Letter of Credit linkage

Actions

  • Role based Create/Update 
  • Endorse/transfer ownership within various workflows
  • Release/Cancel
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Full History & Auditing

Module 2:​

Letter of Credit
(L/C)

Services

  • Original L/C
  • Amendments
  • Fulfillment Requests
  • Bill of Lading linkage

Actions

  • Role based Issue/Modify 
  • Status workflow & tracking
  • Balance & fulfillment
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Optional secured notes management

Module 1:​

Electronic Bill
of Lading (e-B/L) ​

Services

  • Original BoL
  • Sea way BoL
  • House BL
  • Letter of Credit linkage

Actions

  • Role based Create/Update
  • Endorse/transfer ownership with multiple workflows
  • Release/Cancel
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Full History & Auditing

Module 2:​

Letter of Credit
(L/C)

Services

  • LC Original
  • Amendments
  • Fulfillment Requests
  • Bill of Lading linkage

Actions

  • Role based Issue/Modify
  • Status workflow & tracking
  • Balance & fulfillment
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Optional secured notes management

Module 1:

Electronic Bill of Lading (e-B/L) ​

Services

  • Original BoL
  • Sea way BoL
  • House BL
  • Letter of Credit linkage

Action

  • Role based Create/Update
  • Endorse/transfer ownership with multiple workflows
  • Release/Cancel
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Full History & Auditing

Module 2:

Letter of Credit (L/C)

Services

  • LC Original
  • Amendments
  • Fulfillment Requests
  • Bill of Lading linkage

Action

  • Role based Issue/Modify
  • Status workflow & tracking
  • Balance & fulfillment
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Optional secured notes management

Module 2:​

Electronic Bill
of Lading (e-B/L) ​

Services

  • LC Original
  • Amendments
  • Fulfillment Requests
  • Bill of Lading linkage

Actions

  • Role based Issue/Modify
  • Status workflow & tracking
  • Balance & fulfillment
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Optional secured notes management

Module 1:​

Electronic Bill
of Lading (e-B/L) ​

Services

  • Original BoL
  • Sea way BoL
  • House BL
  • Letter of Credit linkage

Actions

  • Role based Create/Update
  • Endorse/transfer ownership with multiple workflows
  • Release/Cancel
  • Diverse transactions between multiple parties around the globe

Features

  • Viewing permission
  • Automatic notifications
  • Secured documentation
  • Full History & Auditing

LogChain Benefits

 

Solve Trust Issues Between Parties

  • One single truth
  • Reduce dependency on physical documents
  • Streamline customs and other government authorities processes thanks to transparent end-to-end information

Reduce Risk of Fraud

  • Verified ownership
  • No fake copies
  • Original status of B/L is known by all parties
  • Reduced cyber risks

Reduce Costs

  • Printing B/L – reduce costs and use of special materials (watermarks, stamps, silver)
  • Delivery of original B/L – reduce delivery costs
  • Bank processes – reduce inspection & demurrage costs

Save Time & Improve SLA

  • Reduce and save time of commercial disputes
  • Using smart contract and workflow will reduce handling time, especially when changes are made to the B/L or L/C

Team

Executive Leaders

Dudi Avni
CEO & Co-Founder

Formerly CIO and VP Global Customer Services at ZIM
(Top 10 global shipping companies)

Erez Kreda
CTO

Blockchain “geek” with vast experience developing in multiple domains and startups

 Ben Pasternak
Chairman and seed investor

Owner of Aman Group, one of Israel’s leading IT companis, provides LogChain a distinctive strategic industry support

Sivan Eliyahu
Project Manager

Michal Grotas
Marketing Manager

Stay Tuned