The blockchain technology and its integration with IoT seem to be quickly catching on and the practical uses and benefits of these integrations would be interesting to watch..
RoadLaunch & CargoX announced recently that they are coming together to create a joint platform to service thousands of users in the transportation sector..
RoadLaunch is an intuitive, fully integrated and easy-to-use system for freight quoting, dispatch, capacity management, load matching, asset tracking, transparency and instant settlement..
CargoX, is a multi-award winning open and independent platform based on blockchain technology highly regarded as the optimal way to transfer information of value in the digital shipping business..
This partnership will integrate CargoX’s Blockchain Document Transaction System technology, powered by the Ethereum Network, with RoadLaunch’s permission-based blockchain platform..
How will this work..??
RoadLaunch and their IBM solution partner provide a platform for intelligent logistics enabled by IoT-driven smart contracts between carriers and shippers..
RoadLaunch uses locations, freight, and intelligent tools to match loads with the available truck and trailers in real-time..
This allows the user to manage their fleet, save time, and connect securely with their trusted freight partners using technology integrations for load boards and Air/Sea/Ground shippers..
RoadLaunch comes with a central dashboard that provides fleet visibility, smart matched loads, automated tasks, instant documents, order management and instant payments..
The RoadLaunch platform runs on a set of smart contracts that oversee the interactions between the participants in the network, powered by a permission-based Hyperledger Fabric blockchain, also known as a private blockchain..
The devices connected to the internet-of-things (IoT) in RoadLaunch’s network and their enterprise resource planning (ERP) software will feed data regarding the transfer of ownership of the physical flow of goods into the CargoX platform in real-time and thereby facilitate the transfer of ownership digitally, in a completely secure and seamless way..
Platform members will use the FactR digital wallets for next-generation logistics, settlement, audit, and reconciliation.
As per Cory Skinner, Founder and CEO of RoadLaunch/FactR.
“The partnership with CargoX is very exciting and it brings us onto a level of next generation logistics supply chain we have not seen in today’s market. The integration of the Smart B/L™, coupled with the RoadLaunch permissions based smart contracts for ground freight, will enable trusted parties to seamlessly interact on global, multi-modal transactions. This is then further advanced with FactR cross-border settlement, truly advancing transaction management”
Francisco Montenegro, Project Manager at CargoX explains.
“CargoX’s open and independent platform is highly regarded as the optimal way to transfer information of value in the digital shipping business. RoadLaunch will offer the logistics industry something very revolutionary, as the benefits of private and public blockchains merge together in order to set new industry standards.
With this integration, the RoadLaunch Platform will offer an extra layer of decentralization to their flow of information. Bills of Lading and other documents in the supply chain information flow will be properly time-stamped and transferred, and an extra layer of trust and event transparency will be added to the RoadLaunch permission-based network”