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DAFZO to disrupt logistics industry with its patented technology

Business Finance


DAFZO, a UK-based Startup is going to disrupt the USD 8,797 billion logistics industry with its patented technology, as it recently filed for the patent application in UK and Europe.

The UK-based startup is the world's first Blockchain-based Global P2P Logistics platform is creating disrupting the logistics using Blockchain, smart contracts and AI. Within the first month of the launch, DAFZO has a partnership with global logistics support partner with Hong Kong-based Galaxy e-solutions hybrid Blockchain market leading refurbished electronics company.

DAFZO aims to revolutionise the global e-commerce logistics and the consignment forwarding system by eliminating the present financial intermediaries like bankers that involved in the process of Letter of credit to facilitate International sales. Alternately DAFZO proposed Blockchain logistics ecosystem, which cost much less to operate and further adds benefits to the user by reducing the Turn Around Time (TAT) of shipment and the hefty transaction fee of financial intermediates. DAFZO provides enhanced safer technology and reliability and strengthens the entire supply chain.

DAFZO is the fusion of Blockchain, smart contract, Artificial Intelligence and Machine learning process that offers a number of benefits to the average consumer, including safety, liquidity, and economies of scale in trade finance and international sales. For instance, under traditional route letter of credit open to an exporter against property collateral, in India its known commonly known as Loan Against Property. DAFZO ecosystem open letter of credit without property Collateral and exporter save high banking commissions under letters of credit also avoid the lengthy paper process.

DAFZO is the advanced version of Courierhome, which is India's first online logistics aggregator powered by AI (ALIS) by the same founding team. Courierhome empowers users to send a courier from anywhere in India to anywhere in the world.

"From the inception of logistics industry is one of the most unorganised sectors and lacking innovation in the terms of technology integration. We came up with an idea of beta-launch of Courierhome by introducing India's first online logistics aggregator service, integrated with Artificial Intelligence. We have received overwhelmed response so far from the market and looking at the response team decided to launch beta version globally by adding an advanced layer of most disruptive technology Blockchain," said DAFZO and Courierhome founder Prateek Sharma.

"DAFZO is using smart contract for every transaction keeping the security measure in mind. DAFZO is going to create an ecosystem in which beneficiary parties such as international buyers, e-store and importer-exporter are going to benefit. Dafzo is empowering international buyers to shop online without any geographical barrier and same time offer e-stores to expand their internationally," added Cofounder and COO of DAFZO and Courierhome Sushant Kumar.

DAFZO is also coming up with its Initial Coin Offering (ICO) and through ICO will launch its ERC20 cryptocurrency utility token "DFZ" tokens. Nass and Guild LLP, an IPR consulting firm which is having expertise in IPR and cryptocurrency regulation is helping DAFZO in framing legal framework for ICO offering.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, January 12 2018. 16:00 IST