Blockchain technology can make trucking industry transparent and error-free | Rig Hauler

Blockchain technology can make trucking industry transparent and error-free

  • Technology
Blockchain technology can make trucking industry transparent and error-free Photo Credit: transport-auto.com

Trucking is among one of the most important industries in America with it being referred to as the backbone of the nation's economy owing to the fact that trucks move about 70% of all domestic freight. The industry is a complex network that interconnects suppliers, manufacturers, movers, and several other entities. The involvement of so many different aspects can often result in errors.
This can be overcome by the Blockchain technology, which is referred to a set of digitized records that are linked and continuously growing. The advantage of using this technology in a multi-layered industry is that these records are transparent to all the entities of the trucking network. Digitized records eliminate the possibility of errors since all the information is stored on smart devices like sensors. In Blockchain technology, records are processed in real-time, which leads to faster and more reliable results. Currently, Blockchain technology is being used in the development of self-driving trucks. It can provide benefits such as reduced cost for consumers.

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