Fr8 freight blockchain

I was not sure where to post this as it is such a new concept. But I thought some guys here might like to read about it. You can view the Fr8 Whitepaper here >>>> https://fr8.network/whitepaper/fr8-whitepaper-v1-6.pdf

From Driverless Cars to Decentralized Freighting: How Our Highways May Change in the Next Decade

Read more: https://cryptovest.com/reviews/from-driverless-cars-to-decentralized-freighting-how-our-highways-may-change-in-the-next-decade/

Few industries have been as intertwined with technological advancement as transportation. From Henry Ford’s assembly line to the onset of the Uber age, technological innovation has ensured that our highways are constantly changing landscapes. So, what developments can we expect over the next decade? Here are a few likely changes.

Decentralized Freight
The freight industry is fragmented--90% of carriers have fewer than six trucks, and 50% are one-truck operations. These numerous smaller carriers are often plagued by “empty miles,” meaning the driver must take an empty vehicle from a drop-off point for one load to a pick-up point for another. Empty miles are wasteful. They increase the industry’s carbon footprint and wear down infrastructure without offering any actual productivity. They are expensive and dangerous for the drivers themselves -- owner/operators usually receive no payment for empty miles, and trucks are far more likely to crash when empty.

Despite their inefficiency, empty miles remain very common because managing shipping contracts is difficult. Drivers often miss out on loads that could make their mileage less “empty” simply because they have no way of learning about or connecting with those shippers. The industry has traditionally relied on brokers, but each broker’s efficiency is limited by the size of their network.

The rise of sophisticated digital platforms will eventually make “missed connections” between carriers and shippers and render empty miles a thing of the past. Of course, shipping contracts involve plenty of financial exposure, so these platforms will only be as valuable as the trust generated by the agreements on them.

Fr8 Network is launching a decentralized platform to forge connections among shippers and carriers. It is built on top of a blockchain cryptocurrency, the Fr8 Token. The Fr8 Network bi-directional matching system helps carriers find shipments for both their outbound and inbound trips. Fr8 Tokens, which are required to access the platform, employ smart contracts and automatic escrow to ensure agreements made on the Fr8 Board are enforced and trustworthy.

Read more: From Driverless Cars to Decentralized Freighting: How Our Highways May Change in the Next Decade - Cryptovest

Fr8 Network

 

Remind me of this post in 7 months please.