Following in the footsteps of global leaders in industries such as precious metals and food trading, freight entrepreneurs are using the Bitcoin blockchain to conduct business safely and transparently. Following in the footsteps of global leaders in industries such as precious metals trading and food, freight entrepreneurs are using the Bitcoin blockchain to conduct business safely and transparently. DexFreight is testing a smart contracts platform on the Bitcoin blockchain Decentralized logistics platform dexFreight announced the completion of its first blockchain-based shipment using smart contracts, in which it sent a shipment containing about 2.5 tons of frozen food. The shipment was within the United States, from Medley to Manny's Enterprises, based in Sunrise. "This is a major milestone in the transformation of the logistics industry through the use of blockchain technology. Our platform aims at a truly decentralized model, open to all stakeholders, offering a new quality of service that will bring the needed optimization and liquidity to this industry." - wrote Rajat Rajbhandari, CEO and co-founder of dexFreight on the company's blog. The dexFreight platform, which runs on an open source protocol, blockchain technology and machine learning, allows shippers and carriers to connect directly, negotiate rates and schedule pickup and delivery. The company says the new operating system will provide unprecedented transparency, as well as an enhancement of trust that is currently lacking in the logistics space. It is an industry-first, proven identification and reputation system based on blockchain and smart contracts. It will enable the collection and analysis of key performance indicators such as on-time pickup and delivery, on-time payments, and loading and unloading times. As technology evolves, it will increasingly help shippers and third parties streamline the carrier registration process while reducing transportation liability risks. "With smart contracts, companies like dexFreight can transfer assets between parties on our platform. With a defined set of rules, all stakeholders know that their business needs will be met." - wrote Diego Gutierrez, CEO of RSK, the company responsible for the platform's programming issues. De Beers and Walmart also use blockchain to increase efficiency and trust In May this year, one of the world's largest diamond boutiques, De Beers, announced the successful completion of blockchain testing to track diamonds at every stage. From the mine, to the equipment that processes them, to the jeweler's facility. The path of diamonds can be tracked from the time they are dug up in a mine to the time they are sold to a customer. For this purpose, DeBeers has developed a blockchain platform called Tracr. After successfully completing testing, Tracr is ready for full launch before the end of the year. At that time, the platform will be available for use by the entire industry. Importantly, five leading diamond producers: Diacore, Diarough, KGK Group, Rosy Blue NV and Venus Jewel, have worked with De Beers throughout the process. According to De Beers, the named manufacturers were chosen as partners because of their extensive experience in processing large stones, as well as their significant stakes in the industry. Blockchain is also used by supermarket chain Walmart. In partnership with IBM and Tsingua University, the grocery giant is testing the new technology to monitor products in real time at every stage of the supply chain. The project is still at an early stage, but already, the company has managed to significantly reduce the time it takes to track products. This, in turn, has increased food safety, which the company's vice president asserted was one of its main motivations. Tags
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