Blockchain-based platform for the exchange of shipping documentation to improve logistics operations while reducing overhead costs and the use of paper-based systems

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eTEU Technologies Ltd. was created by Eduard Oboimov, Kristian Volohhonski, and Mykhaylo Lepekha. eTEU aims to create a solution that could result in savings of £100M for UK SMEs, with regards to their administrative overhead costs. The costs associated with inefficient paper-based documentation that is used in shipping are estimated to reach up to 20% of the actual price of the shipment. Though big companies can use proprietary blockchain solutions to manage such costs, SMEs do not have the technical skills or the budget to effectively manage such costs. eTEU's solution is a cheaper blockchain-based shipping platform that can be used for documentation.