An Intellyx Brain Candy Brief
A port is a central destination for commerce, managed by business and terminal operators. But it is also a decentralized community of many different parties, all of whom must interact in the logistics ecosystem — brokers, shippers, transport companies, government customs teams and more.
Rajat Rajbhandari, CEO and co-founder of dexFreight, and Juan Carlos Villa, senior research engineer at the Texas A&M Transportation Institute, have embarked on a government-approved project to build an distributed ledger system to loosely bind together all participants in the major port of Veracruz, Mexico with an immutable source of truth for trade accountability.
Their combined teams are exploring a hybrid private-public approach, combining versions of Ethereum and RSK/rootstock blockchains in cloud infrastructure to track all containers and commodities moving through the large Gulf of Mexico port. Customs officials will get visibility into all shipments without having to check every container. Future plans to account for or enable supply chain or customs payments within the system were mentioned.
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