A new blockchain partnership could revolutionize the freight and logistics industry. Nicknamed “Dockchains,” the new project will combine high-tech blockchain technology with cargo shipping, creating a more secure freight industry.
The Dockchain project has recently announced partnerships with major players in the freight industry, including FedEx, UPS and Alibaba.
Dockchains: A new level of high-tech Cargo Security
“Dockchain technology adds an extra level of security to the Shipping industry,” said Dockchain developer John White. “Right now, a package sent from China to a factory in Pennsylvania will typically pass through ten or eleven different shipping hubs, including seaports and train stations. There are high rates of theft, loss and late delivery. By digitally securing shipments on the Dockchain, we can better protect articles in transit and ensure that they are delivered to the correct address on time. “
According to the Project’s white paper, the Dockchain works by sealing cargo crates between the point of origin and their final destination.“Each parcel will be associated with a buyer’s unique public address, which is recorded before it is added to a shipping crate. Once a shipment is full, its contents are digitally locked to the Dockchain, which can only be unlocked with the appropriate private key.”
“Each block of the chain is joined to the previous one by the most advanced ferrous encryption techniques,” the white paper continues. “The only way to hack a locked dockchain is with a brute-force attack, which would be expensive in time and resources.”
High-Tech Digital Technology
“Once a shipment is on the Dockchain, the only way it can be removed is by digitally unlocking it,” said Craig Grant, financial advisor to the Dockchain project. “The procedure of digital unlocking is quite difficult,” Grant added. “Sometimes I need all ten digits just to open the lock.”
“We’re very excited to help create a new paradigm for the shipping industry,” said investor Charles Matos, after contributing over a million dollars to the Initial Chain Offering. “The great thing about the Dockchain technology is that it’s fully scaleable and fully decentralized, with no single point of failure—as a matter of fact, every point is a point of failure.”
The Dockchain’s ICO, or Initial Chain Offering, began on March 15th, and has raised $2.5 billion in its token sale as of April 1st.
“Thanks to the Dockchain, the world of shipping is not anymore the way it used to be,” Matos announced. He added, “Mmm, mm, no no no.”
You have Successfully Subscribed!
This article was first and originally published at following website – Source link . All the content and copyrights belong to their original authors.