How to get truckers on the blockchain? Pay them! – FreightWaves


"If P & G wants to connect its TMS to the Fr8 protocol, the commission for the connection of a new shipping contract will be directly linked to the amount of data collection it wishes to incentivize", according to the Fr8 Network white paper. "For example, a trucker receives a micropayment for the use of an electronic bill of lading instead of the traditional one, or an IoT supplier receives micropayments for temperature and position updates provided, updates every 10 minutes are equivalent to more micropayments than updates every 4 hours. "

But there is more than one way to encourage the use of the Fr8 protocol. Another angle was inspired by the special CLEAR lanes of the airports, which allow passengers to jump overhead at the security lines because their travel documents and their identities are pre-checked. By managing these documents on a blockchain, where the property can be cryptographically protected, cross-border freight traffic could be accelerated and waiting times almost eliminated.

"A courier's time is a valuable asset within the regulated logistics space because they can drive so many hours in a 24-hour period before mandatory rest," Fr8 Network emphasized. "On-line waiting for inspections or permits creates inefficiency and increases the cost of transportation and trade." Currently, goods entering the United States at a land border suffer an average waiting time of 2.75 hours per Inspection Through a simple application, the Fr8 protocol can accelerate the processes of inspection, authorization and crossing of the land border by exploiting the attributes of transparency, immutability and digital identity enabled to blockchain. "

Although the & # 39; Implementation of blockchain-based smart contracts is expected to significantly reduce disputes arising from missing and incomplete paperwork, but there are still procedures for conflict resolution and governance incorporated into the Fr8 protocol. The referees will also be compensated directly with Fr8 tokens, further encouraging participation in the network.

The tokenized economy of the blockchain has the potential to change the calculation of the industry participants when it comes to the adoption of new software and technologies. Many transport companies are hampered by decades-old systems built for a previous generation of information technology, but they are discouraged from switching to more recent software due to the prohibitive costs associated with maintaining operations in the middle of an update, importing old data into a new system and quickly retrain employees. With the Fr8 protocol, adoption will be a revenue generator rather than a cost center, potentially accelerating the technology adoption cycle and shifting transportation to the future faster than one would expect.

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