Singapore’s port is one of the busiest ports in the world - with 130,000 vessels entering our port annually, with an estimate of 1,000 vessels in our port at any given time. With the high volume of bunker sales, there are over 500,000 documents being processed every year - hundreds of hours are spent manually checking each document for compliance which results in a delay in document flow. What if there was an automated system that allow documents to be processed almost immediately, while being checked for compliance standards?
We have developed an online web portal technology that automates the documentation process and facilitates compliance checking through the integration of blockchain technology.
Relevant parties can now view the documents on real-time. If the system detects any discrepancies between the document fields and regulations, the company would be notified automatically. With this data of the level of compliance of each company, we will also be able to generate monthly reports for companies to monitor their compliance level.