Ocean Protocol partner with dexFREIGHT to enable transportation and logistics companies to monetize data- PART 2 HSV GTS Follow Feb 21 · 3 min read

Since our last article on January 18 2020 between the partnership between Ocean Protocol and dexFREIGHT some further information has come to our attention via Hector Hernandez (Co-Founder & CSO at dexFREIGHT ) which we thought we would share with the Ocean Protocol community. Most of this information is in the attached link below but some correspondence has also been via Telegram.

which we thought we would share with the Ocean Protocol community. Most of this information is in the attached link below but some correspondence has also been via Telegram. The Data Marketplace will commence in April 2020 and will initially focus on serving US based truckload transportation providers.

and will initially focus on serving US based truckload transportation providers. 190+ companies have signed up to dexFREIGHT, including freight brokers, carriers and shippers.

The U.S. logistics industry is comprised of 500,000 trucking companies, 16,000 brokers and millions of shippers and the majority of them are small and medium-size companies.

Currently, they are unable to receive any compensation as actual owners of their data while third-party software vendors are able to aggregate and sell data to competitors, marketing firms, insurance companies, government agencies and others leaving them out of this revenue from data monetization opportunity.

Ocean Protocol’s role in the marketplace will enable intuitive publishing and consumption of data and the creation of royalty distribution methods and payment and pricing functions.

The company will also develop a UX for Web3 onboarding, wallets and connections with tokens and a system for dispute resolution.

Several types of logistics data will be generated in the dexFreight omnichannel marketplace including the following:

Information on the historical location of trucks

shipment attributes

prices

indices and invoices

See full article below on these updates

Brief background from previous article

Data asset pricing in Web 3 marketplace (dexFREIGHT)

dexFREIGHT are huge believers of Web 3 movement. They hold a firm belief that users always have the first right to their data and be able to monetize it.

This belief has led them to partner with Ocean Protocol/BigchainDB and create a much-needed logistics data marketplace powered by smart contracts, whereby companies can buy and sell logistics data at their will and change the “rent seeking” paradigm that has plagued other marketplaces. One of the critical parameters in the data marketplace is pricing or valuation of user (shipment) data.

and create a much-needed logistics data marketplace powered by smart contracts, whereby companies can buy and sell logistics data at their will and change the “rent seeking” paradigm that has plagued other marketplaces. One of the critical parameters in the data marketplace is pricing or valuation of user (shipment) data. dexFREIGHT is providing the domain expertise, design requirements and will be the first user to sell data from its own logistics marketplace. Ocean Protocol is developing the marketplace infrastructure including the application of its blockchain network, smart contracts and tokens.

What can Ocean Protocol offer dexFREIGHT ?

Ocean will enable dexFREIGHT users to exchange live market information in a very secure way without compromising the ownership or privacy of the data. 1 out of 3 trucks on the road runs empty, $300 million wasted daily in the US alone, solving this will be a game-changer.

Web3 data marketplace for the logistics industry (projected launch April 2020)

Over 84% of US carriers operate less than 6 trucks. Data produced by these companies is extremely valuable and yet they are not compensated for it. Our data marketpace powered by Ocean Protocol will unlock extra revenue for all logistics users

Users contributing data will be compensated in tokens via smart contracts

In the Ocean-powered marketplace, shippers and carriers will own their data and have the option of sharing it with others.