Could the Blockchain Concept Work in the Trucking Industry?
Blockchain may be the “Holy Grail” of the trucking industry. We have enough trucks and drivers to fill demand, but matching up shippers and carriers in the right place at the right time can be tricky, even with a yard truck to position trailers where they need to be at a moment’s notice. Blockchain technology is the other piece of the puzzle necessary to make trucking the efficient industry that it should be.
Blockchain for trucking looks a bit different than Bitcoin, which runs on a public blockchain. Transportation companies use a private blockchain. Both offer a distributed ledger of highly secure data, but the private version requires an invitation.
A co-founder of Transfix, a trucking marketplace, recently laid out how blockchain is used in transportation and what needs to happen for it to be wildly successful:
– Trust: Shippers and carriers must trust the system. This requires an agreed-upon process of vetting and contracts.
– Small business participation: We’ll need to see close to universal adoption by small firms, which make up the vast majority of shippers.
– Standardization: Things will only go smoothly if everyone involved uses the same data type.
The Yard Truck for a Hyper-Efficient Trucking Industry
If your warehouse could have a driver ready to take every piece of freight to the next destination, would you even be ready for it?
While blockchain may revolutionize the data, you need boots-on-the-ground preparedness to make use of the improved warehouse efficiency.
The TrailerCaddy electric yard truck from DJ Products can tow any trailer up to 100,000 pounds with speed, safety, and incredible efficiency. Load trailers up to the dock, move them around the yard, and be prepared for the new wave of blockchain for distribution. Contact us for more info.