Bitcoin Blockchain Is Used For Cargo Transportation In USA
The DexFreight startup has successfully delivered products on trucks using blockchain and Bitcoin smart contracts in the United States, Truck News reports.
About 2.5 tons of frozen products were delivered en route from Medley to Sunrise in Florida. Apart from DexFreight, Netuno USA, the actively developing wholesale company in the field of seafood supply, the transport carrier Arel Trucking, which has a fleet of 180 cars, and the Rootstock (RSK) platform, which was one of the first to start working with smart contracts on the Bitcoin blockchain, were among the interested parties.
All transactions between the participants were carried out in the form of a conditional agreement on the integrated RSK platform. The funds were sent to the carrier automatically after the goods delivery.
The implemented project can be a landmark event for the freight industry and includes a number of advantages. Firstly, blockchain guarantees payment for the delivered goods in full and on time. Secondly, the technology promotes transparency and competitiveness.
The platform is only taking its first steps, but it may soon turn into a thriving business. It will allow companies with small orders to compete with the giants of the industry. There is no need to wait for the payment for weeks or months, the process will be as easy as sending an email.
As previously reported, the authorities of Valencia in Spain will transfer international port deliveries to blockchain.