Toronto-based DLT Labs appeared at MarketWaves 18 to present their Asset Track platform. VP Jason Matthison demonstrated a real-time tracker of transaction workflow. Delivery times, delays, loads, and other factors are entered into the platform. Asset Track produces block chain updates via smart contracts to reduce manual errors. This enables dispute resolution to be drastically reduced from days to minutes.
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Matthison used the opportunity to highlight how real-time updates along the supply chain using information technology is important for logistics management.
"We believe that you're currently not dealing with capacity constraints, but rather tremendous inefficiencies." He went on to identify the inefficiencies of account payable disputes which accounts for over $140 billion in wasted capital.
Improved communication between shippers and carriers through Asset Tracker enables a more direct and transparent model for moving freight.
Visit FreightWaves daily to see more rapid-fire demos from MarketWaves 18. More of the popular demos, which aren't allowed to use PowerPoint slides and must show the product in action, will be featured at Transparency19 in May.
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