The naval industry has 63,000 drivers less than necessary, according to the American Trucking Associations. This number is expected to rise to 176,000 by 2026. With 71% of US freight transported by truck, the shortage could result in slower shipments and higher prices for consumers and operators, undermining the at the same time. economy increasingly dependent on delivery.
Carriers struggle to recruit and retain new drivers. Burnout is common due to the arduous nature of trucking, which requires drivers to sacrifice time with friends and family for long journeys and long journeys. The current annual turnover rate is at an astronomical level of 94%, higher than almost every other industry. Depending on the turnover rate, drivers who stay at work should be in constant work and payday, but federal safety regulations increase the potential income, decreasing the incentive to join the profession.
to new technologies such as autonomous trucks to combat deficiency, but autonomously driven vehicles are supplied with heavy price tags, untested hardware and distant deadlines. Fortunately, recent innovations in blockchain technology could help offset the shortage of critical drivers.
Blockchain technology has the potential to create a more efficient trucking industry by streamlining logistics. Blockchain helps maximize the use of fuel, optimizes routes and ensures automatic and instant payments, while recording immutable records of everything from transport conditions to driving times. Smart contracts facilitated via blockchain allow shippers and couriers to eliminate the need for brokerage firms, which act as intermediaries and often employ up to 30% to manage transactions.
By creating a more efficient trucking industry, LaneAxis hopes to drastically improve the driver's experience, using blockchain to increase revenues and reduce costs, while protecting carriers by providing detailed records. Drivers are often compensated for productivity, which means that efficiency is critical to ensuring the highest payday for drivers. Constantly updated routes mean faster deliveries and reduced fuel costs. Immediate acquisition of the new load and driver verification mean fewer empty trucks on the road and greater productivity. Immutable records can provide legal protection and quality assurance for carriers and shippers.
Blockchain technology has the power to alleviate the pressure of truck drivers shortages and reward drivers for their hard work by improving the efficiency of the trucking industry and putting more money into the pockets of the professionals who provide the backbone for American commerce. No solution will solve the growing demand for drivers, and with autonomous trucks still years away from large-scale implementation, blockchain offers an immediate outlet to compensate for the lack of drivers.