Pomerene is proudly built on @SuiNetwork - the most flexible and cutting-edge technology in the industry. It’s been an honor to participate in the inaugural #SuiHydropower Accelerator.

Pomerene in memetic form.

On the History of Bills of Lading — and the 1916 Pomerene Act

📣 Pomerene Network v1 Mainnet is Live 📣 This v1 Mainnet launch on @SuiNetwork is a milestone. A first of many toward realizing the network’s core value proposition – an open data and coordination standard for trade.

In today's episode: SuiLight We are featuring @PomereneNetwork! They are building an autonomous decentralized shipping platform leveraging @SuiNetwork to fix interoperability problems with IRL trade and logistics. Built by top chad @timhobbs_25519 🟩💧 <Alpha's inside👀>

The network is an open data and coordination standard – fully authenticated and interoperable – that can power a new smart trade stack of interoperable data and financial systems. Digital bills of lading are a part of this trade stack. 10

One of the express intents of the Act was to improve the trust and security of shipping transactions through standardization, in order to facilitate both trade and trade finance. Pomerene network is doing the same today for the internet age. 9

Pomerene is named with a nod to the 1916 Pomerene Act, a landmark in maritime law that standardized the rules governing bills of lading to facilitate trade. 8

The appreciation for their legal significance was slow, but it grew with the great wave of globalization in the late 19th century, elevating the importance of legal standardization. The volume of exports globally increased by nearly 100x from 1800 to 1913. 7

But bills of lading did not come into widespread use until the 16th century. As these shipping contracts are also specific applications of double-entry accounting, it’s likely no coincidence that the rise of both concepts occurred during the same century. 6

This practice of furnishing authenticated duplicates, or “bills”, from the book of lading, gave full form to the bill of lading concept. This history also highlights the critical authentication problem the bill of lading evolved to solve. 5

As these ledgers remained at risk of damage or loss, in a shipwreck or otherwise, and as financial innovation created demand for authenticated trade documents, additional statutes began to require that replicas of the ledgers be furnished upon request to trade counterparties. 4

City statues from as early as 1063 required carriers to be accompanied on board by a neutral city clerk, for the authentication of shipping transactions in the presence of the shipper, ship master, and one other witness. Their books were the official ledgers of transactions. 3

The modern concept of this fundamental shipping contract was mostly formed in the 11th century, as the rise of the great commercial cities of the Mediterranean gave rise to trade and to the role of the carrier. 2

On the History of Bills of Lading In trade, a bill of lading is the official document the carrier (for instance, a steamship line) gives to the shipper of goods when it accepts the goods into its custody for shipment. This one is from 1659 for dyewood and sugar from Curaçao. 1

Authenticated & Interoperable

Let the meme wars begin.

Authenticated, Interoperable Data - Pomerene's competitive advantage in trade and logistics.

Pomerene is an open data and coordination standard for international trade.

Pomerene is an open data and coordination standard, with cryptographic authentication.