Binkabi platform leverages blockchain technology to validate transactions and to ensure immutability of data. This is done via a smart contract, a small computer program residing on the Ethereum blockchain.
When an exporter submits a bill of lading, Binkabi platform will activate the smart contract which will retrieve the original bill of lading (BOL) from the shipping company through a Oracle.
If the details match, the bill of lading will be stored in the blockchain.
Once on the blockchain, the bill of lading information can't be tampered, giving piece of mind to importer that the goods is being shipped.