The nightmare in bulk trade is double-selling: one cargo, several warehouse receipts issued by the warehouse, each pledged to a different bank, the title multiply financed on paper. Paper receipts rely on manual stock checks, and the gap is exactly that no one can see the whole picture at a glance.

Our approach splits the receipt into two separately registered rights: the pledge right (bank financing side) and the delivery right (cargo picker side). Both layers generate a SHA-256 fingerprint in the browser, and together with inbound, inspection and transfer timestamps they are written to a judicial blockchain notary. Before any new pledge is initiated, the system checks whether an un-cancelled pledge already exists on that chain — and blocks it if so.

The decisive piece is judicial admissibility. The notary does not rest on our own word; it ties into court-recognized timestamp authorities (TSA) and SM2 signatures, so the hash chain can be submitted as evidence directly in a dispute. For SNSUC's seven-variety transshipment cargo, title passing through multiple hands in transit can be confirmed layer by layer, which is what lets banks lend against future delivery rights.