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Moving America, Trucking & Blockchain

Moving America, Trucking & Blockchain

Today, trucking companies rely on an interconnected network of technology, logistics, and service providers to keep goods moving — transporting them across the country through various warehouses and distribution centers before they hit retail shelves or consumers' front doors.

 This complex behind-the-scenes coordination involves multiple companies and technology platforms that have been reliant on a backbone of communication largely done manually through emails and phone calls. This has put an incredibly difficult strain on the trucking industry as they transport goods across the country.

Trucking is a massive industry that affects virtually every American. Trucks move roughly 70 percent of the nation’s freight by weight, according to the American Trucking Association. Many organizations are adopting a new consortium called the ‘Blockchain in Transport Alliance’ (BiTA) to solve the trucking and transportation system as an effort to make sure that the fleet managers and shippers are aware of the potential of blockchain in the supply chain for strengthening their fleet operations and strengthening communication.

Due to the use of multiple information systems between manufacturers and trucking carriers, they have a difficult time talking to one another and when they do, it is often a time-consuming process riddled with inconsistencies. By using blockchain, the technology can provide added protection to shipping and bolster delivery efficiencies. This means that fleet managers, owners, operators, vendors, and anyone else in the supply chain would have access to the blockchain content, creating an efficient, transparent system with an elevated level of security and streamlined communication.

The following scenario describes the impact of blockchain on trucking: 

  1. Carriers and manufacturers connect trucks to a permissioned blockchain network. 
  2. Carriers solicit freight from third-party logistics providers and shippers connected to the blockchain network. 
  3. Once the carrier has a truck available, the network matches up the shipper’s load based on the electronic logging device that provides the driver’s available hours of service. 
  4. A reference price is used to determine how much the shipper will pay for the shipment. 
  5. A smart contract listing the price, fuel, and incidental costs is generated and sent to the carrier. 
  6. The carrier accepts the contract terms. The truck takes the load. 
  7. Thanks to the blockchain and transactions, the shipper can track every event related to the shipment. 
  8. Once the load is delivered, proof of delivery is provided. 

The BlockSpaces platform provides a solution to seamlessly interact with other organizations in the supply chain and make the above scenario a reality. Within any ecosystem or business process, there are layers of technology that require integration. Our workflow automation platform utilizes a library of pre-built integrations to connect business applications with multiple networks to provide data visibility and efficiencies beyond individual, disparate systems, and information silos, making it ideal for those needing to connect to multiple touchpoints in their supply chain.  

Our team deeply believes in blockchain and understands that the technology may seem daunting for many in the trucking industry. Therefore, we deliver a code-free interface without requiring significant technical expertise, making connecting to a blockchain-friendly environment seamless. Our platform allows developers to advance products faster; saving weeks of time that would otherwise be spent developing and maintaining connections to third-party APIs, blockchains, and ERPs. 

Supply-chain trends indicate that as 2022 rolls out, the trucking industry will become even more infused by technology as it seeks better solutions to speed the delivery of goods and advance communications. Incorporating blockchain technology into the pipeline is a guaranteed way to strengthen one of America’s most important industries, and BlockSpaces is prepared to help. 

If you are in the trucking or logistics industry and are interested in being a part of the future of blockchain, BlockSpaces is now accepting reservations for our early access Pilot Program.  

Why join our pilot program?  

We get a lot of value from the feedback we receive from pilot customers. But what are the big wins for you?   

  • Impact development: Give feedback on features and put your mark on the results.  
  • Get a head start: Discover new features and upcoming versions before anyone else and win ample time to plan a successful start.  
  • Safe roll-out: Your technical resources gain confidence to roll out the software to all users from thorough testing and issues fixed.  
  • Free guidance: Get advice in utilizing the new features and receive free consultancy and software usage.   
  • Improved Connect: Benefit from a multitude of improvements resulting from feedback from ALL pilot customers in addition to your own.