RoadLaunch, the private blockchain-based digital freight management platform is collaborating with the public blockchain logistics document transaction platform, CargoX, on a blockchain project in the first publicly available integrated product in logistics of this kind.
Both parties provide a one-solution smart project which combines private and public blockchains to business users with the features of both worlds.
The partnership with CargoX is a big step forward in the supply chain industry and further sets the stage for next-generation logistics. Global organizations will be able to see an enhanced, trusted and simple interface for their shipment tracking and document transactions using multiple blockchain technologies
… is stated by Cory Skinner, founder, and CEO of RoadLaunch and FactR.
This partnership gathers data and documentation of the users on multiple blockchains at the same time. Users with no knowledge of blockchain technologies will be able to access the services in one single-window application.
The platform includes from freight quoting, dispatch, capacity management to instant settlement of freight payments. This new feature added by CargoX, provides users with a secure way to transfer ownership of global trade documents in a digital way.
Concerning the blockchain project, Constantin von Hirsch, Syndicate Executive, Eastern Syndicate, provides an insight into blockchain; explaining what is the blockchain database and the blockchain smart contract.
In late July, the World Economic Forum in collaboration with the International Organization for Public-Private Cooperation launched the “Blockchain Value Framework” which is a part of the white paper, Building Value with Blockchain Technology: How to Evaluate Blockchain’s Benefits.