Blockchain startups sign with UofM
DexFreight, Peer Ledger to work with FedEx Institute of Technology
Two blockchain technology startups have joined the FedEx Institute of Technology at the University of Memphis.
They are Miami-based dexFreight, which works to improve supply chain collaboration and shipping efficiency, and Halifax, Nova Scotia-based Peer Ledger, which develops blockchain applications for use in automotive manufacturing and health care.
The U of M announced the companies had signed memorandums of understanding with the FedEx Institute.
“The University District over the next several years will evolve to become the heart of technology innovation in our region,” Dr. Jasbir Dhaliwal, the university’s chief innovation officer, said in a news release.
“Companies like Peer Ledger and dexFreight help to change the narrative, and building research collaborations and workforce development solutions for these young companies helps to seed Memphis as a national destination for applied innovation.”
Blockchain is a system of encrypted, shared online transactions that enables digital currency such as Bitcoin.
Officials of dexFreight and Peer Ledger said they look forward to growing their companies and building a workforce of U of M students.
“Memphis presents an exciting opportunity to dexFreight as we grow in the space of blockchain applications for the logistics industry,” said Dr. Rajat Rajbhandari, dexFreight co-founder and chief executive officer.
“The potential to cultivate a 21st-century workforce in partnership with the University of Memphis and the FedEx Institute of Technology’s research clusters is a major driver for our decision to operate in Memphis,” Rajbhandari said.
Peer Ledger president and CEO Dr. Dawn Jutla said, “As blockchain and other exciting new technologies begin to permeate all industries, Peer Ledger wants to be in the middle of this rising city and the huge growth potential for our company in the U.S. market.
“The FedEx Institute of Technology and University of Memphis students are critical to our success, and we look forward to working with them to further realize the success of our company.”