Solution

Elight system

Elight system consists of:

1) Temperature data logger with Bluetooth module;

2) Mobile platform for detecting data and creation Smart Contracts.

How does it work?

For example, there is a deal between three contractors, the Consignor, the Transport operator and the Consignee.

Step 1. They create a Smart contract and program all the key terms of treaty including temperature range and payment conditions.

Step 2. Transport operator places money to an account of the Smart contract as a security deposit to guarantee discharge of obligations of transportation and provision temperature range.

Step 3. The Consignor places TDLs in the boxes with goods and loads a truck.

Step 4. While the truck is running, TDLs measure and record the temperature of goods. A truck driver may connect to TDLs via his mobile phone (by Bluetooth) and carry out the real-time monitoring.

Step 5. The truck arrives at the Consignee’s depot. A warehouse agent connects to the TDLs via his mobile phone and downloads the temperature logs. These logs are automatically uploaded to the blockchain.

Step 6. The Smart contract checks the uploaded data and reacts in accordance with its program. If there are no temperature fluctuations or other breaches made by Transport operator, the security deposit goes back to him. Otherwise, the security deposit goes to Consignor as a loss compensation.

This was just one case of how Elight system can be used. The structure of Blockchain-based Smart Contract is agile and provides ability to involve any number of contractors and to set many alternative terms of payment between them. Anyway, the idea of our Smart Contract is to set strong cause-and-effect relationship between the fact of successful delivery (without temperature fluctuations) and the payment.

The general scheme of how the Smart Contract works is represented on the picture below:

Advantages of Elight system

• Real-time temperature monitoring without unpacking the cargo;
• Reducing labor costs and time losses;
• Agile structure of the Smart Contract provides ability to involve any number of contractors and to set many alternative terms of payment between them;
• Ability to establish complicated supply chains;
• Provides additional guarantee to all contractors. May replace bank letter of credit;
• Easy to implement and integrate. No any additional equipment. Only one contractor bears the cost of implementation (for buying TDLs).