Article by FreightWaves staff. See the original post here.
For the past 20 years, dexFreight’s co-founders have been firm believers in innovation. As freight brokers, freight forwarders, carriers, logistics staffing, and technology developers, the founders were convinced that technology held the key to resolving a lot of the challenges faced by the industry, but a piece of the puzzle always seemed to be missing. Until blockchain came along.
Realizing the power of this technology, dexFreight joined BITA, the Blockchain in Transport Alliance, in 2017. dexFreight’s co-founders attended the first BiTA conference in November. During the event, while sharing ideas with industry leaders, the need for a decentralized, community-owned, open-source platform for all actors of the supply chain to collaborate more efficiently was confirmed, and dexFreight was born.
dexFreight is currently under development and plans to shape the future of global logistics by combining blockchain, smart contracts, IoT, and artificial intelligence, bringing a unique value proposition to the industry. The platform will offer blockchain-based identity and reputation, smart contract for digitized transactions, tokenized payments, real-time peer-to-peer transactions, on-demand warehousing, automated load/capacity match, fraud prevention, and much more.
“The dexFreight team is excited to join BiTA and sees this as a step forward to collaborate with others in the industry,” said Hector Hernandez, one of the co-founders of dexFreight. “By joining BiTA, dexFreight aims to play a leading role in fostering the use of blockchain and associated technologies to improve supply chain and logistics.”
dexFreight will be attending the Transparency18 freight conference in Atlanta, GA, on May 22-23, 2018.
dexFreight is developing a decentralized, peer-to-peer, community-owned, open source logistics platform built on blockchain and machine learning for all actors in the supply chain, to collaborate and move shipments more efficiently. dexFreight is led by a team of seasoned logistics entrepreneurs, academics, and business experts.
BiTA was formed in August 2017 by experienced tech and transportation executives to create a forum for the development of blockchain standards and education for the freight industry. Organizations taking part in BiTA share a common goal of developing blockchain technology to unleash its full potential. This includes educating the industry on the technological efficiencies and benefits from which revolutionary applications can be built and implemented.