The trucking industry sees organizations form to represent the needs of companies in various classifications across the U.S. The complex needs of such an important industry means corporate organization is vital for success.
From the American Trucking Associations that focuses on providing training and regulatory assistance for carriers to the Women in Trucking Association that helps females find their footing in the industry, many groups play a major role in how the industry performs.
The Blockchain in Trucking Alliance (BiTA) is dedicated to helping improve the logistical aspects of freight transportation using self-executing contracts. Freight companies are always concerned about minimizing delays, cutting down on unnecessary expenses, and streamlining transactions between multiple parties.
While freight transportation employs millions of individuals across all U.S. states, logistics administrators also make up a significant portion of the industry’s workforce. Commercial vehicles and carriers have had a history of adopting more cloud-based platforms and data-management tools within the past several decades. The blockchain offers the potential to help give customers the results they want quicker, which has always been the main object in the trucking industry.
The newest addition to BiTA is Fleet Complete, a trucking company known for helping to promote the implementation of comprehensive communication platforms to businesses. The company has also been known for its foresight when it comes to helping companies plan for long-term growth.
This partnership is easily a win-win. Both organizations have a lot to gain from the use of this technology, and from their work together. Fleet Complete is known for distributing telematic solutions to trucking companies, providing the equipment they need to track assets and vehicles while they’re on the road.
BiTA can benefit not only from Fleet Complete’s reputation in the industry of distributed freight systems, but also from their ability to foster growth over time for their customers. Fleet Complete, like the other organizations that work with BiTA, will gain access to education and resources concerning the blockchain. Having these resources is important for trucking companies any time new changes are introduced. BiTA will likely lead the way in this area.
The blockchain could speed things up and streamline trucking’s basic practices to a large degree. Drivers who are making a delivery could get paid automatically through the system of smart contracts. These self-executing agreements would also make it easier to autopay for fuel and maintenance expenses, taking many of the delays and excess costs out of the equation.
Of course, the trucking industry takes advantage of many new developments in the logistics sector. Everything from logbook discrepancies to cost issues have been resolved thanks to the use of these new developments.
As far as making sure these tools can be implemented smoothly, partnerships between key organizations in the field are crucial. Their commitment to education and assistance in the implementation aspect of techs like these means carriers of all sizes have the ability to benefit.
As more financial, communications, and educational institutions adopt blockchain technology, it is easy to see why the freight industry stands to benefit as well.