• dexFreight partners with Rootstock to bring real-world assets to DeFi.
• The platform has been granted a USPTO patent for its supply chain design.
• This technology enables the creation of NFTs from freight invoices as collateral, creating a new asset class that can appeal to institutional investors.
dexFreight Partners With Rootstock
dexFreight, a blockchain-based logistics platform, partnered with Rootstock, a Bitcoin layer-2 sidechain, to leverage the power of smart contracts and offer efficient logistics services.
USPTO Patent Granted
The platform was recently granted a United States Patent and Trademark Office (USPTO) patent for its supply chain design. This technology will enable dexFreight to create non-fungible tokens (NFTs) from freight invoices that can be used as collateral for accessing liquidity and filling short-term financing gaps for trucking companies.
NFT Collateralization
The partnership between dexFreight and Rootstock DeFi creates a connection between decentralized finance (DeFi) protocols and real-world collateral. DeFi liquidity providers can access stable yields from real-world transactions, while the Rootstock ecosystem can benefit from billions of dollars in real-world collateral. This introduces a new asset class capable of appealing to large institutional investors, having the potential to drive mass adoption, and impacting global commerce.
Aim To Revolutionize Logistics Industry
When asked about the patent, Rajat Rajbhandari, cofounder of dexFreight shared their aim to facilitate lower cost access to liquidity for small and medium sized companies worldwide. The current traditional freight industry requires drivers to wait days or months before receiving payment for successful deliveries; however this innovative solution is set to solve that issue by ushering an era of cheaper faster auditable and traceable transactions in the supply chain industry.
Looking To Dominate Logistics Industry
Supply chain management is an essential multi billion dollar industry for all businesses involved in producing and distributing goods according Hector Hernandez CSO/co founder of dex Freight . The collaboration highlights the benefits of Decentralized Finance (DeFi): “This patent is the outcome we have been looking forward too” he states , “it allows us to dominate logistics industry by giving us access to secure faster more transparent payments”