Freight Trust - The Next Generation EDI
What is Freight Trust (EDI)?
A Unique Network Transport Infrastructure
Think of Freight Trust Blockchain Network as a VAN or Value Added Network
The Freight Trust VAN is based off Hyperledger Besu, a Java Client that is EVM compliant, meaning it can connect to the main ethereum network or you can set up a “permissioned” network, which is what the Freight Trust Network is. They use the $EDI Token to establish a market-based price for our transaction pricing. If interested in the pricing mechanisms please read the omnibus documentation.
Unique Value Proposition
They extrapolate 3 mathematical properties that legal contracts have. Then use these 3 mathematical properties to design “smart contract primitives”. These primitives are then mapped to existing EDI formats that companies use to communicate with each other. The mappings enable the raw EDI transaction to then become a smart contract.
Based on the mathematical properties (and some additional software), they can enable raw EDI transactions to become actual smart contracts, based on if the End User (by default it’s just raw message), wants to be able to do something besides sending a raw EDI message in order to enable that functionality.
That is what makes the Freight Trust system unique in the sense that they can take normal EDI transactions and enable existing business workflows to be leveraged into new functionality, without having to migrate to a new system or front end user interface.
What’s been going on so far?
Freight Trust has been putting in some major development over the last few months. It’s safe to say the decision for Sam to part with the old Block Array team was probably one of the best he’s ever made. More details can be found regarding that below.
You can see the progress of development on Freight Trust’s Github repository (links below). The Freight Trust Network has been up and running for a few months already.
There is a rumor going around that Freight Trust may be in the final process of signing on a new deal with a big player. If true this company has connections all across the world in the freight logistics industry. For 50 years this company has been a provider of research and consulting services to the maritime and shipping industry across an international network of offices in London, Delhi, Singapore and Shanghai.
EDI has been listed on 3 exchanges in just a little over a month. One more exchange listing with-in the next week or so. With Uniswap also on the horizon.
Freight Trust has also onboarded a new advisor, Ron Volpe who just joined from TradeShift. Ron’s experience as Chief of Supply Chain at TradeShift and Kraft (Global Head) is invaluable in the efforts to sell to enterprise clients. Ron has successfully led and transformed very large and global CPG supply chains from manufacturer (Kraft Foods) to shelf (Coles Australia) across over 30 countries.
Baseline Protocol
Freight Trust has been working alongside Baseline for a couple months now. Freight Trust will officially be part of the Baseline Committee’s on the next onboarding announcement which could be as soon as next month. Unibright has also just recently joined Baseline.
For those of you that are not familiar with Baseline
“That’s the view of a trio of heavy hitters in the enterprise blockchain space: EY, ConsenSys and Microsoft. The group has come up with a new way of using the public ethereum mainnet to connect firms’ internal systems for resource planning. They are calling it the Baseline Protocol.”
Here are some of the major players involved in Baseline.
Baseline Project Governance Board
Name | Organization |
---|---|
Chaals Neville | Enterprise Ethereum Alliance |
Dan Burnett | ConsenSys |
Tas Dienes | Ethereum Foundation |
Baseline Technical Steering Committee
Name | Organization |
---|---|
Brian Chamberlain | ConsenSys |
Conor Svensson | Web3Labs |
Eric Bravick | Core Convergence |
Hudson Jameson | Ethereum Foundation |
Johann Eid | Chainlink |
Kartheek Solipuram | Ernst & Young |
Kyle Thomas | Provide |
Nate McKervey | Splunk |
Stefan Schmidt | Unibright |
Zachary Williamson | Aztec |
Baseline Specifications Steering Committee
Name | Organization |
---|---|
Arwin Holmes | Ernst & Young |
Bill Gleim | ConsenSys Health |
Daniel Norkin | Envision Blockchain |
Joerg Roskowetz | AMD |
Jon Stevens | Web3Cloud |
Joseph Bala | Neocova |
Karen Scarborough | BP |
Stephan Baur | Kaiser Permanente |
Steve Shortt | BP |
Yorke Rhodes | Microsoft |
Tim Coulter | Truffle |
How can logistics companies benefit from using Freight Trust (EDI)?
Existing companies are already using raw EDI messages to communicate. Freight Trust’s value proposition is that they take the existing data the clients are already producing and become the actual “network transport layer” for them to connect to. By joining and using the FT network transport layer (i.e. Freight Trust Blockchain) they get the benefits of interacting with smart contracts and a distributed enterprise network that can provide the same assurances in relation to a service level agreement they would have with Klienschmidt, but at 1/10th the cost.
Staking and Masternodes
Details can be found in the links below
https://freight-chain.github.io/omnibus/blockchain/staking/
https://freight.page.link/nodes
Supply Details
Current MC: $1.1 Million
Max supply: 611,029,679
Circulating supply: 161,000,000
Max amount for staking and rewards: >450,029,679
What Does EDI and VAN Mean in the Shipping World?
EDI - Electronic Data Interchange
Electronic Data Interchange - EDI comprises many types of “messages” which when transmitted between two parties are designed to substitute other forms of data transfer.
VAN - Value Added Network
VAN is essentially a private network provider whereby EDI (Electronic Data Interchange) documents are transmitted and exchanged. In other words, it is a channel of communication to move data from point A to point B.
Comparisons
Here is the biggest competitor in the "normal edi message VAN space" https://www.kleinschmidt.com/ks
Another competitor in the “normal edi message VAN space” https://www.livingstonintl.com/resource/paperless-billing-four-options-livingston-clients/
Freight Trust offers the same service, at a significant cost savings, plus additional functionality (if they want to).
Exchanges EDI is trading on (more to come, much sooner than later)
IDEX - https://idex.market/eth/edi
Probit (BTC pair) - https://www.probit.com/app/exchange/EDI-BTC
Probit (USD pair) - https://www.probit.com/app/exchange/EDI-USDT
Bidesk (BTC pair) - https://www.bidesk.com/exchange/EDI/BTC
Bidesk (USD pair) - https://www.bidesk.com/exchange/EDI/USDT
Uniswap - https://uniswap.exchange/swap?inputCurrency=0x79c5a1ae586322a07bfb60be36e1b31ce8c84a1e
Commodities Exchange
Freight Trust will also be launching their own commodities exchange in the near future. Date TBA.
What happened with Block Array?
Block Array was the original project, after some differences in how to deal with the approaches with the original protocol (i.e. legal recognition of our process) Freight Trust bought them out and moved from Chattanooga, TN to Los Angeles, CA and have since developed further. FT has a new team (contractors) and new advisors. Freight Trust is a new legal entity that acquired the IP from block array inc. Block Array inc, will be officially dissolved this year (2020) and its remaining liabilities discharged. Freight Trust is not Block Array, but does have the same founder (Sam Bacha).
Background on EDI Token
ARY was original token
BOL was swapped for ARY at 1:1
BOL was swapped to EDI for 1:1.35 (see RFC4) - the issue being how pricing works on a per kilobyte basis: EDI Transactions are priced per kilobyte at the rate determined by PEM. PEM is fixed at the same rate as defined in the ethereum yellow paper Designing Smart Contracts With Free Will (A2) - Philip Daian
Links
Website - https://www.freighttrust.com/
Telegram - https://t.me/freighttrust/
Twitter - https://twitter.com/freighttrustnet
Github 1 - https://github.com/freight-chain
Github 2 - https://github.com/freight-trust
LinkedIn - https://www.linkedin.com/company/freight-trust/
Master Node Guidelines - https://docs.google.com/spreadsheets/d/1Zr_infzxwRTgClBkYpjmrLxS1SPAD8Xl5axIDlrEmbc/edit#gid=397315684
Etherscan - https://etherscan.io/token/0x79c5a1ae586322a07bfb60be36e1b31ce8c84a1e
FAQ for Freight Trust Network - https://hackmd.io/@freight/faq
Freight Trust Network in a Nutshell - https://hackmd.io/@freight/nutshell
What is an “EDI” Transaction? - https://hackmd.io/@freight/edi-explainer
Smart contract documentation - https://hackmd.io/@freight/smart-contract-docs
Staking Incentives - https://hackmd.io/@freight/staking
Whitepaper/Documentation - https://freight-chain.github.io/omnibus
Network Upgrade Procedure - https://hackmd.io/@freight/network-upgrade
Freight Trust Primer Articles - https://medium.com/freighttrust
Links, Accounts & Press - https://hackmd.io/@freight/links
Bloomberg Company Profile - https://lei.bloomberg.com/leis/view/254900C9UJMDGJ0ILK56
Primitives Draft Paper - https://www.authorea.com/users/285079/articles/445181-embedded-volumetric-optionality-a-new-financial-instrument-primitive
Gwei Derivatives Draft Paper - https://www.authorea.com/users/285079/articles/445804-gasevo-a-tradeable-forward-instrument-enabling-options-pricing-on-ethereum-transaction-settlement
EDI Protocol Token - https://medium.com/freighttrust/edi-protocol-token-8ce2bde5e885
Roadmap - https://freighttrust.com/q2-2020-roadmap/
Freight Trust Network Setup Videos - https://asciinema.org/~freight
Articles by Freight Trust
Is blockchain finally ready for prime time? - https://www.freightwaves.com/news/is-blockchain-finally-ready-for-prime-time
Digitization promises to level the supply chain playing field - https://www.freightwaves.com/news/digitization-promises-to-level-the-supply-chain-playing-field
Smart contracts may offer smart solutions for carriers, truck drivers - https://www.freightwaves.com/news/smart-contracts-may-offer-smart-solutions-for-carriers-truck-drivers