CargoX, the public blockchain logistics document transaction platform which was built on a public blockchain, has been integrated into RoadLaunch, the private blockchain-based digital freight management platform.
The RoadLaunch platform streamlines freight quoting, dispatch, capacity management, load matching, asset tracking and instant settlement of freight payments. CargoX has added a new feature, with a secure way to digitally transfer ownership of global trade documents.
The joint solution keeps records of the user’s data and documentation on multiple blockchains simultaneously.
RoadLaunch is using CargoX technology to transact ownership of bills of lading and other trade documents through the Ethereum public blockchain. RoadLaunch itself uses the HyperLedger private blockchain.
Among the private blockchain-based functionalities there is real-time shipment tracking and management with the help of IoT (Internet-of-Things) sensors, a built-in automated quote framework, and tools for digital freight capacity management.
Cross-border payment, settlement, audits, and reconciliation are provided by FactR/Stellar financial blockchain and wallet solution, which is integrated into their platform as well.