We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » Online freight broker turns to cryptocurrency to raise capital
inbound

Online freight broker turns to cryptocurrency to raise capital

November 14, 2017
DC Velocity Staff
No Comments

One of the latest entrants into the crowded "Uber for trucking" sector is taking a creative tack to raise funds: selling shares in its own "cryptocurrency," a type of virtual electronic money similar to Bitcoin or Ethereum.

The company, Doft, is a Walnut, Calif.-based tech startup that says its mobile app can reduce deadhead miles, automatically locate backhaul cargo, and help shippers move unplanned urgent freight. The company joins a crowd of recent entries to the freight-matching marketplace that includes Haulme LLC, XYpper Technologies Inc., Transfix, 10-4 Systems Inc., Cargomatic Inc., and UberFreight.

To stand out from the pack, the founders of Doft (an acronym for "Do Freight Transportation") are raising money in a way that past generations could not have imagined. The firm held an "initial coin offering" (ICO) in October, in which it created its own currency—called Doftcoins (DFC)—then sold them to buyers like truck drivers, third-party logistics service providers (3PLs), and freight shippers.

Launching an ICO allows a firm to seek funding from the general public, rather than dealing strictly with venture capitalists. The strategy works best when large crowds line up to buy shares, so Doft sweetened the deal by offering anyone who bought Doftcoins in October a 50-percent premium on their investment as well as a lifetime of 0-percent commissions—worth an average of $100 per load—on all freight booked through the Doft platform.

So the next time you see a tractor-trailer cruising down the highway, remember that the driver behind the wheel may also be a high-flying financial speculator.

Technology
KEYWORDS 10-4 Systems Cargomatic Doft Haulme Transfix Uber Freight Xypper Technologies Inc.
  • Related Articles

    Manhattan Associates CEO turns pugilist for one night to raise money for charity

    Convoy turns to travel sector for new president and COO

    Transfix adds online load booking to freight marketplace app

Recent Articles by DC Velocity Staff

Freight sector missed the boat on strong U.S. economy in Q3 and Q4, FTR says

Sloppy thieves botch trailer heist

Freightos completes plan to go public on NASDAQ exchange, raises $80 million

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Fred Smith is not worried about Amazon

  • Outlook 2023: What’s in store for logistics/supply chain?

  • Ports, maritime operators see tide turning as ocean freight tsunami subsides

  • In Person: Steve Beverly of Penske

  • InPerson interview: Rob McKeel of Fortna

Now Playing on DCV-TV

89cfed30 8aac 4284 960d c8c8c1886e16

Have you checked your read rate lately?

DCV-TV 4: Viewer Contributed
No reads. Unaccounted for boxes. Boxes sent to the wrong place. A logistics nightmare! But this nightmare doesn’t have to come true. SICK’s linear line scan camera is what dreams are made of for your logistics operations. And if you’re worried about motion and vibration from conveyor belts...well, there’s no reason...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing