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dexFreight Coordinates Frozen Food Shipment Using Blockchain Technology

On Oct. 15, Netuno USA shipped 5,320 pounds of frozen food from Preferred Freezer Services in Medley, Florida to seafood distributor Manny’s Enterprises Inc. in Sunrise, Florida using a blockchain-based logistics platform.

The shipment was the decentralized logistics platform dexFreight‘s first blockchain-based shipment using smart contracts. The platform, which envisions an ecosystem of open source protocols, blockchain and machine learning technologies, allowed the shipper and carrier to directly connect, negotiate rates, and schedule pickup and delivery. 

For this first truckload shipment, dexFreight partnered with Netuno USA, one of the fastest growing seafood wholesalers, Arel Trucking Inc., an asset-based motor carrier with over 180 trucks, and RSK, the first smart contract platform secured by Bitcoin. Funds for the transaction were held in escrow by the smart contract on the integrated RSK platform and were automatically released to the carrier upon delivery. 

“This is a huge milestone toward an imminent transformation of the logistics industry through the adoption of blockchain technology,” says Rajat Rajbhandari CEO and co-founder of dexFreight. “Our platform aims for a truly decentralized model, open to all the stakeholders, and allowing for a new world of services that will bring much needed optimization and liquidity to this industry.”

dexFreight offers the industry’s first blockchain-based verified identity and objective reputation system derived from smart contract data and key performance indicators (KPIs) such as on-time pick-up and delivery, on-time payments, loading and unloading times, freight claims, and more. With this data readily available, the company says shippers and third parties can streamline the carrier onboarding process while reducing associated liability risk.

“With the use of smart contracts, companies like dexFreight can transfer value and assets between parties on our platform,” says Diego Gutierrez, CEO of RSK. “With a defined set of rules, in this case for logistics, all participants know that their business needs will be fulfilled without anyone altering their agreement or changing the rules.”

In addition, with up-to-date profiles in the platform, including all required and relevant documentation such as licensing, insurance, safety and performance records, and credit history, counterparties will be automatically qualified based on unique business requirements, issuing alerts or even preventing transactions when qualifications drop below designated thresholds. 

“With dexFreight, we have transparency into loads we’re shipping all over the U.S. based on honest and accurate information that is beneficial for our operation and our customers,” adds Luciano Bonaldo, president and co-founder of Netuno USA Inc.

Further, Robert J. Julia, CFO of Arel Trucking, says “dexFreight solves the issue of false documentation by making our transactions with shippers completely transparent, and so we can get paid for the service we provided. This technology is the way of the future for the whole trucking industry.”

Baby, it’s cold inside – DC Velocity

October 16, 2018

Baby, it's cold inside

Ocean Spray warehouse can freeze 79 million pounds of cranberries at a shot.

By DC Velocity Staff

Where do you turn when you need a new temperature-controlled warehouse that can rapidly freeze up to 79 million pounds of cranberries? For the agricultural cooperative Ocean Spray, the answer was Americold Realty Trust, an Atlanta-based cold chain specialist.

For Ocean Spray, the well-known producer of fruit juice, snacks, and cranberry sauce, Americold was the logical choice. The two have been partners for nearly 40 years.

In late August, Americold announced the official opening of the new facility, which will be used for the distribution of Craisins brand dried cranberries. Located adjacent to Ocean Spray’s production facility in Middleborough, Mass., the site has 165,000 square feet of temperature-controlled space across three rooms and a loading dock. Collectively, the three rooms, which operate at 0 degrees F, can accommodate about 60,000 totes, which equates to nearly 80 million pounds of berries.

This new facility represents Americold’s fifth in the state of Massachusetts. It joins 155 other warehouses owned and operated by the company in the U.S., Australia, New Zealand, Canada, and Argentina.


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One in every five pounds spent with UK retailers is now online, figures show

One in every five pounds spent in UK shops is now online, official figures show for the first time, as fears grow over the dying High Street.

New data from the Office for National Statistics shows online sales rose by 15.3 per cent over the past year and now make up a record high of 18.2 per cent of all retail sales.

This is up from 2013 when one pound in every ten was spent online. In particular shoppers are avoiding “dusty old department stores” and shopping on their computers and phones instead, experts said, as they saw online sales rise by over a third (35 per cent) in the year to July 2018.

It comes after House of Fraser fell into financial difficulties and was bought by Sports Direct owner Mike Ashley, who has pledged to turn it into the “Harrods of the High Street”.

Meanwhile national DIY chain Homebase has announced it is to close 42 stores to save money. 

Around three shops are closing on UK high streets every day, as soaring business rates, online competition and a fall in trade have hit independent retailers.    

But retail sales grew faster than expected in July when sunshine and the World Cup boosted food sales and shoppers took advantage of online sales and prolonged discounts on fashion. 

Sales volumes rose by 0.7 per cent on the month before to recover from June’s decrease of 0.5 per cent, and were 3.5 per cent higher than the same time last year, the ONS said.

The ONS said feedback from non-store retailers suggested that online promotions further encouraged sales, while non-food stores reported a fall in footfall in July 2018.

ONS senior statistician Rhian Murphy said: “Many consumers stayed away from some high street stores in July, but online sales were very strong, supported by several retailers launching promotions.

“Food sales remained robust as people continued to enjoy the World Cup and the sunshine.” Laith Khalaf, a senior analyst at Hargreaves Lansdown, said: “There’s really only one winner in the battle between clicks and bricks at the moment, with online sales driving retail growth onwards and upwards. 

“Even the dusty old department stores are belatedly getting in on the act and have seen a huge jump in the proportion of their sales coming from online purchases.”

“Internet shopping is clearly extremely popular with consumers because of its convenience, though it does take a toll on the high street.

“Even if more traditional stores are switching to the online channel, that means they need less physical space to sell stuff from. That spells more store closures, which clearly does nothing to attract people to the high street and is likely to contribute to declining footfall.”

Last week the ONS reported that pensioners are abandoning the High Street and shopping online instead, as nearly half of over 65s now shop via the internet.

Previously online shopping was seen as a preserve of younger consumers who were most likely to be using the latest technology. 

However the proportion of older buying items via websites from the comfort of their own homes has trebled over the past decade from 16 per cent to 48 per cent, according to the Office for National Statistics.