Sunrise, Florida – March 8, 2019-– The blockchain-based logistics platform dexFreight, announced today a partnership agreement with CargoX, an independent supplier of blockchain-based Smart Bill of Lading (Smart B/L™) solutions.
CargoX solutions will integrate with the dexFreight platform to provide shippers, carriers, consignees, and other supply chain stakeholders, a digital bill of lading solution that will replace paper documents, reducing total time needed to transfer ownership from 10 days to only 20 seconds.
“Our partnership with CargoX will allow users to transfer cargo ownership rights without the hassle of handling paper, notary and traditional attestations while they maintain and track provenance. In addition, they can be factored and/or sold as a tokenized debt instrument in the open market at a much lower cost than traditional financing” said Rajat Rajbhandari CEO and co-founder of dexFreight.
Under the agreement, CargoX solutions will be available to members of the dexFreight network. CargoX will provide technical support for its solution to dexFreight platform users. With this collaboration, both companies aim to deliver unprecedented visibility, transparency and a trust layer that is sorely lacking in today’s logistics process.
“The partnership with dexFreight is really exciting because the smart BL will be offered in a thriving ecosystem that interconnects shippers and carriers using the smart tools of the 21st century that are disrupting the industry. This is a perfect match for the smart BL,” said Stefan Kukman, CEO and founder of CargoX.
Basic features of the dexFreight platform include TMS/FMS integration, load and capacity matching, safety data, rate negotiation, accessorial selection, P&D scheduling, shipment tracking, navigation and communication, smart contracts and payments. Advanced features of the platform are also under development.
CargoX is the independent supplier of blockchain-based Smart Bill of Lading (Smart B/L™) solution that provides an extremely fast, safe, reliable, and cost-effective way to process Bills of Lading anywhere in the world. Visit https://cargox.io
dexFreight is a decentralized, blockchain-based logistics platform that allows shippers, carriers and other supply chain stakeholders to transact and collaborate more efficiently, transparently and securely. For information, visit www.dexfreight.io