LaneAxis: A Blockchain –Based Logistics Ecosystem

LaneAxis: A Blockchain Based Logistics Ecosystem

As an industry that depends on the global economic environment and international trade law, the logistics sector was hard hit by the crisis. Yet, global revenues had reached 981 billion euro by 2011, and continued recovery looks promising – growth is expected to reach a rate of up to 3% in worldwide volume between now and 2020.

Logistics’ cross-functional role as a critical link between other industries means that in order to continue along this positive trajectory, it must also adapt to the changes facing the very industries that it facilitates. This poses a unique set of opportunities.
In the U.S. alone, the transportation sector is an $800 billion a year industry. It forms the very fabric of the American economy.

Problems in the Industry

Unfortunately, this crucial sector has for many been operated through uncoordinated aspects of operational processes. As it currently stands, a lot of the matchmaking between shippers and carriers is carried out by third parties and intermediaries, such as brokers. This creates a situation where cost is hiked because of the brokers that are involved and to worsen matters, the means of communication and tracking is obsolete. The increased costs result in increased overhead payments to third parties, and loss of potential income can come from increased time to find a carrier for each shipment, carriers moving equipment that is not fully used, and unexpected delays or exceptions that are not adequately communicated to the shipper.

There is no doubt that this is an international matter. The laneaxis ecosystem will focus on deploying the solution across the U.S. with the expectation that its usefulness will help the solution quickly spread across other parts of the world.

The LaneAxis Ecosystem

The platform’s  blockchain is built to connect shippers directly to carriers, completely removed from unnecessary and costly third party intermediaries and middlemen. The laneaxis blockchain will make useless any need for third party freight brokers. Shippers, carriers and other closely related industry parties will access the laneaxis blockchain ledger through the use of the axis token, which will serve as
an api key granting access to laneaxis platform.

self-executing smart contracts represent the future of freight tendering. A shipper’s contract can be uploaded to the blockchain’s unchangeable ledger with self-executing actions taking place as soon as specific contract requirements are met and checked.

 Blockchain technology is advantageous in that it can create a “digitized roadmap” of routes, and smart contracts written into the blockchain which can start the transfer of funds to a driver immediately once a delivery has been finished. Payment with smart contracts is immediate once the proof of delivery is confirmed.

The growth in the platform’s driver community will be accompanied by smart contracts that give carriers immediate access to freight. This will give usefulness to both the shipper in terms of cost reduction, and to the carrier in terms of increased revenue.

Improving business processes for the entire transportation industry is very critical to the laneaxis blockchain project. Trucking companies would be able to maintain unchangeable and permanent records on each truck in their fleet.

Usefull Links:                     Website | ANN Thread | Whitepaper

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Profie Link:      Orangeseller
ETH Address:  0x1461C3727dC461EfF7B32751dFf56c51c2218d5E

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