Block Array announces FreightTrust, blockchain-based supply chain technology
Block Array has developed a new blockchain-based shipping document application, FreightTrust, and a new hazardous material joint venture to enable drop-shipping of hazardous materials.
FreightTrust is a blockchain-based application designed to eliminate the need for having a physical shipping documents, such as bills of lading.
Using an ethereum-based blockchain called POA, FreightTrust has successfully been used in production environments for over a month with several businesses and is beginning to expand to open access for any business wishing to use it.
Sam Bacha, founder and CEO of Block Array, said: “We envision the target end-user for FreightTrust being companies shipping hazardous materials, industrial goods, and other durable goods with long life cycles.
“These items have the need for keeping records for years, which makes a great use-case for blockchain, as opposed to something like food.
“In fact their first customer is a hazardous materials company that ships solid explosives. In the face of increasing regulations, FreightTrust is designed to help eliminate the overhead of additional regulations.
Block Array is also expanding its use case with a new joint venture to help establish a “hazardous material drop-shipping facility” with Cleveland, TN based Vairog LLC. The joint-venture is intended to provide similar capabilities found with other services, such as Amazon’s Marketplace.