Making Logistics Simple
Dafzo is a project that will use Blockchain technology to disrupt the global logistics industry. The company will achieve this by using the technology to eliminate the need for third parties such as banks in the verification, recording, and managing transactions in the international trade finance sector.
Symbol: DFZ Token
Crowd sale (Start date): Q4, 2018
Face Value of DFZ: USD0
Hard cap: $20,000,000
The Logistics Industry Today
The logistics industry is one of the most important industry in countries engaging in international trade. Moreover, the sector contributes significantly to the world’s GDP. It helps the countries to sell products they have in excess and buy the products they don’t have. Furthermore, it leads to the development in the participating countries.
Currently, the volume of international trade is thought to be around $40 Trillion. The volume for the payable is around $8 Trillion. The global trade finance sector is expected to reach about $9 Trillion. Trade finance at the international level is facilitated by third parties, including clearinghouse and banks among other financial service providers.
Problems In The Current Logistics Industry And Why Dafzo Is Important
Currently, international trade i.e. the import and export of products is done through the traditional centralized banking system. Such banks charge high fees for the transaction making it expensive to trade. Dafzo will eliminate most of the hefty fees that traders have to pay to third parties. The fees will be much lower with Dafzo compared to those charged currently.
The current logistics industry is time-consuming. The traders have to wait for some time as the process involves a lot of paperwork. For instance, the issuance of a Letter of Credit takes between 15-20 days. Dafzo will use smart contracts, which will allow the digitization of letters of credit (L/C). This will eliminate the time-consuming paperwork and the involvement of third parties.
The traders in international trade have to supply the banks with hefty collateral amounts. Many SMEs find it challenging to raise such huge sums due to their limited liquidity locking them out of international trade. Dafzo will not need a collateral when issuing a Letter of Credit. This will enhance participation in international trade.
Under the current logistics industry, data is stored in a centralized system. Consequently, it is challenging for logistics businesses to record and track every movement of their products. Moreover, the traders find it difficult to connect with various important participants such as the receiver, banks, and customs clearing agents among others. However, Dafzo will make it easy for traders and other participants to verify any details regarding the transaction.
Dafzo On Social Media
Dafzo is present in various social media networks like Twitter, Facebook, and Telegram. Their presence in social media enables them to reach more people. Moreover, it provides them with an easy way of communicating important details about their project to prospective investors and customers.
Dafzo is promising to revolutionize the way international trade is done. Moreover, the technology will help in addressing the major challenges present in the current logistics industry. The project is likely to gain adoption from both the exporters and the importers. Once this technology is launched, most participants in international trade will seek to use it to enjoy benefits such as transparency, reduced trading costs, and efficiency among others.
ETH Address: 0xAD45210F521747e3550a587d409665d96f2368E2