BARCELONA, Spain, April 21, 2020 /PRNewswire/ — ConsolFreight announced a revolutionary pilot powered by technology developed by Centrifuge, that will endow the logistics industry with the possibility of accessing liquidity through collateralized assets as an initial step to transform digital economies. The project will allow traditional freight forwarders to use their receivables to improve their working capital, enabling growth and better payment terms for their customers.
“Dai was created to provide a better way for everybody to participate in the global economy, regardless of size, industry or geographic location,” said Gustav Arentoft, Maker Foundation business development leader for Europe. Working with ConsolFreight to provide small and medium logistics businesses with better access to liquidity through unlocking the value in their collateralized assets creates an opportunity to drive growth for organizations that are currently underserved by traditional financial solutions,”
This new groundbreaking cooperation permits logistics liquidity and allows the origination, qualification, management, and payment of freight invoices. It is particularly advantageous to translate otherwise tedious processes into real use cases to be leveraged in the logistics industry.
“ConsolFreight brings trade finance to the freight industry by bringing these assets on-chain to tap into the liquidity DeFi provides. By using Tinlake, Consolfreight turns these illiquid non-fungible assets liquid and provides a novel finance product to their shippers,” says Lucas Vogelsang, CEO, and Cofounder of Centrifuge.
ConsolFreight aims to continue to research and find new ways of improving current financial instruments and old-fashioned processes to place the logistics sector, in particular freight forwarders, in a competitive advantage for further developing their businesses and scaling their operations.
ConsolFreight was founded in 2016. It is a collaborative ecosystem that uses breakthrough technology such as blockchain and IoT to help improve the logistics and supply chain current processes. ConsolFreight works towards enhancing and better positioning the role of freight forwarders, helping them to grow their business and evolve with the current times. They achieve that by utilizing technology as an enabler in harnessing traditional freight forwarders with solutions that allow them to provide better customer experience, collaborate with others and compete against bigger players in the industry.
Original Source: https://www.prnewswire.com/news-releases/consolfreight-and-centrifuge-integrate-dai-to-transform-logistics-access-to-liquidity-through-innovative-defi-blockchain-solution-301044326.html