TCompanies, developer of PEIR (Photographic Equipment Interchange Receipt), a new app that helps the transportation logistics and shipping industries better assign costs based on responsibility for damaged shipping containers and trailers, made its public debut this week.
“Costs surrounding damaged containers and trailers is a major problem for logistics companies which we estimate domestically at $1.8 billion dollars annually,” said Tom Burke, CEO of TCompanies. “Within the USA, there are 37.5 million containers/trailers that annually transport goods through numerous interchange points each trip. We estimate 25% of those containers/trailers – 9.4 million – are damaged. And if you conservatively estimate a damage fee as little as $200 per incident, you exceed $1.8 billion in annual costs – and this does not include the cost of any damaged shipping contents, such as large screen HDTVs, or the loss of container/trailer revenue during the repair period.”
Before PEIR, if you hadn’t damaged the container/trailer, you had little way to prove your innocence amongst the other 5-7 parties involved in the shipment. And determining who was at fault is a problem in terms of man hours and potential legal costs for all involved at interchange points.
The company added that PEIR solves the type of problems that Burke mentioned with “visible, irrefutable recordable evidence” utilizing blockchain technology.
“With PEIR, there are no questions about the condition of the equipment at your point of interchange as PEIR streamlines the inspection and documentation into a quick, reliable and intuitive mobile app process,” the company said.
The company also noted that PEIR patent pending process establishes a verifiable photographic record for the equipment being interchanged between parties and the record is provable with the blockchain.
Here's how it works:
- Users are guided through photographically capturing a PEIR event that includes taking up to 20 photos of the container/trailer. To start, users type in a brief description of the event and enter as many tags as needed to easily identify the event.
- Photos are gathered with the device's camera to obtain the best possible photo. Move around the container/trailer taking up to an additional 19 photos to record the interchange.
- Tap Finished when done and PEIR will obtain and confirm a blockchain certification and store the information in PEIR's platform for access and retrieval.
- A link to the event can easily be shared by tapping share where the user is presented with several options.
- Review any stored Event through the PEIR mobile app or PEIR's website to verify the blockchain proof of authenticity, event summary, tags, details, geo locations, and unique blockchain hashes.