Tennessee-based startup, Block Array, unveiled its new blockchain-based shipping document application, FreightTrust. The new software will enable drop-shipping of hazardous materials.
FreightTrust is designed to eliminate the need for having physical shipping documents and will utilize an ethereum-based blockchain called POA. So far, the technology has been a success in production environments with several business and will expand to open access for anyone that wants to use it.
"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," found and CEO of Block Array, Sam Bacha says.
Block Array's first customer was a hazardous materials company that ships solid explosives, and FreightTrust was designed to eliminated the overhead of additional regulations.
The company is expanding its use case with a new joint venture to help establish a "hazardous material drop-shipping facility" in Ohio with Vairog LLC. The venture is intended to provide similar capabilities to Amazon's Marketplace.