-
dexFreight was granted the patent on March 28, 2023, the corporate introduced Tuesday.
-
The blockchain-based platform filed a patent utility with the USPTO after a profitable pilot launch in 2018.
-
dexFreight goals to assist small and medium trucking corporations entry money at decrease prices.
dexFreight, a number one blockchain-based logistics platform that seeks to enhance the effectivity and safety of the availability chain ecosystem, has come one step nearer to this actuality after being awarded a USPTO patent.
The patent pertains to dexFreight’s modern know-how focusing on provide chain administration utilizing blockchain-based options. The plan is to have distributed ledger know-how accessible as open supply. Nevertheless, the corporate has filed for a patent to guard in opposition to “patent trolls that would forestall adoption.”
The patent may even present giant logistics organizations with the reassurances they want when seeking to check the brand new know-how, the dexFreight staff famous in its press launch.
dexFreight will convey real-world property to DeFi
Based on particulars shared with CoinJournal, dexFreight was granted the patent on March 28, 2023 following an utility filed with the US patent workplace.
With the patent, the good contract-powered platform can now convey extra real-world property (RWA) to the DeFi ecosystem. Particularly, dexFreight will now revolutionize the DeFi ecosystem by bringing tokenized NFTs of property into the availability chain panorama. This may work by means of Roostock, an EVM-enabled Bitcoin Layer 2 sidechain.
“This patent represents an thrilling alternative to convey DeFi to the availability chain trade globally. With this patent, dexFreight goals to facilitate lower-cost entry to money for small and medium-sized trucking corporations in the USA and overseas. For instance, within the trucking trade, drivers usually have to attend 30 to 45 days to obtain fee for the supply of a load. dexFreight’s modern resolution will usher in a brand new period of cheaper, quicker, auditable and traceable transactions within the provide chain tradementioned Rajat Rajbhandari, CIO/CTO and co-founder of dexFreight.
dexFreight accomplished its first good contract-based truckload transactions on Roostock in October 2018. The corporate later partnered with Centrifuge and MakerDAO because it sought to convey NFT freight invoices to market as a part of offering liquidity and financing to trucking corporations.
The patent utility follows the profitable piloting of those initiatives in partnership with protocols on Rootstock, together with Cash on Chain and Sovryn.
The dexFreight know-how permits trade gamers to show provide chain invoices into digital tokens, which they’ll then use to acquire liquidity from decentralized swimming pools. Automated course of permits quicker and decrease price transactions for customers
