DexFreight to Spearhead Proof of Concept for Blockchain-Driven Port System
DexFreight, a blockchain-based logistics platform provider, has announced a contract with Veracruz, Mexico, to develop a proof of concept for a blockchain-driven port community system.
In our fourth episode of RoadSigns, we ask: What does trucking's rush toward blockchain mean for an industry that relies so much on trust among business partners? Hear a snippet from Ken Craig, vice president of special projects for McLeod Software and co-founder of the Blockchain in Transport Alliance (BiTA), and get the full program by going to RoadSigns.TTNews.com.
The partnership, led by dexFreight and the Texas A&M Transportation Institute, is the first of its kind in the Americas, according to a Nov. 8 press release. The two enter the project with goals of improving security and efficiency of freight transportation within the port system as well as identifying ways to streamline the container-exporting process.
The Port of Veracruz moved 1.12 million industry-standard 20-foot-equivalent units in 2017, making it the third largest port in Mexico, and officials expect capacity to increase severalfold in the next decade.
“The project and [port community system] are critical in improving trade efficiency at the port and being competitive,” said Baruc de la Fuente, Veracruz Customs Agency administrator. “The aim of the PCS is to reduce the time and effort it takes to securely export and import containers through the port and provide much better service to the private sector customers.”
DexFreight will build a web-based application for stakeholders (Mexican Customs Authority, Hutchison Ports (ICAVE), the Customs Brokers Association and the Veracruz Port Authority) to share information and other legal documents as well as record events in the export process. If deemed successful after several months of stakeholder testing, the initiative will lead to implementing blockchain technology in future development of the port community system.
Happy to announce our most recent partnership with @API_VERACRUZ @TNG_HPH and @TTITAMU to test #blockchain benefits in the improvement of port operations! https://t.co/MJMYT72jAt pic.twitter.com/WMVgBXvjVQ — dexFreight (@dexFreight) November 9, 2018
The deal with Veracruz was announced just weeks after dexFreight said it had completed its first shipment — of frozen foods — using a blockchain-based contract system. That shipment was a 5,320-pound haul from Preferred Freezer Services in Medley, Fla., to Manny’s Enterprises in Sunrise, Fla., according to an Oct. 24 press release.