FINANCING MARITIME TRADE

Kivio is using blockchain to unify and streamline the end-to-end process of global maritime trade.

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Background Information

A ship operator and a charterer are at the core of global maritime trade. Since international trade is risky, stakeholders use intermediaries and additional contracts to mitigate risks – brokers, terminal facilities, port operators, customs, banks, insurers, port agents, surveyors, regulators, etc.

This results in a complex ecosystem which is expensive in terms of time and money to execute.

About Kivio

Kivio is a maritime industry focused project undertaken by BlockTEST. The project sets out to make ocean-freights smarter by offering an end-to-end solution to the contracting process.

We intend to make the industry more efficient, saving cost and time. Our innovative solutions will lower the barriers to entry and open room for more innovation leading to growth in trade and global prosperity.

Kivio’s End-to-End Solution

How it Works

  • Hire and demurrage rates are defined to a self-executing smart contract.
  • Loading/discharging operation information is fed from digital documents to the smart contract.
  • This smart contract can automatically generate documents such as a Bill of Lading.
  • Calculation of hire and demurrage is followed by an automated fund transfer.

Key Functionalities

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Provide a unified negotiation platform

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Streamline document management

Calculate hire & demurrage payments

Automatically execute fund transfers

Achievements

Runner-up in the Ethereum Foundation’s ConsenSys Global Blockchain Competition 2018

Semi-finalist at the MIT 100K Competition 2018