The Launch of LaneAxis: the First Broker-less Direct Freight Network on the Blockchain
The Global Digital Freight Brokerage Market is a prominent industry with a market cap of over $1.3 Billion in 2019.
The Transportation Industry is a constantly growing and evolving market expected to reach the $26 Billion mark in 2030. However, this industry is plagued by inefficient processes and outdated technology usage.
Truckers and shippers are tied by brokers of the industry, making the most profit and reducing the earnings of other parties involved. One of the biggest reasons for the unshakable need of brokers is that the inadequate methods of communication by way of phoning, faxing, and emailing leave a massive gap for brokers to exploit. According to recent data, in the U.S. alone, broker fees can amount up to $200 Billion annually.
LaneAxis optimizes the freight network industry using its patent operation network platform, which took over a decade of research to develop. Utilizing integrated smart contracts and by digitizing industry-wide data, LaneAxis operates as the first broker-less Direct Freight Network built on the blockchain.
What Solutions does LaneAxis offer?
LaneAxis is fortified using blockchain, smart contracts and by collecting and digitizing industry-wide transportation data. LaneAxis streamlines the freight transport process.
Both shippers and carriers will benefit from LaneAxis as the platform will remove the intermediaries and increase profit margins. Carriers have visibility to the drivers real-time location, information on available capacity, and availability for a route to the suppliers. This information will help AI-powered predictive analysis to rate the drivers according to their previous performances.
What does LaneAxis offer the Truckers/Carriers?
- They can directly negotiate the contract’s details with the shippers.
- They will receive payments directly and quickly using the LaneAxis platform.
- Truckers can manage their fleet and get regulatory compliance quickly.
- LaneAxis offers a simple-to-use interface that does not require prior knowledge of cryptocurrencies.
- As there are no brokers or intermediaries, truckers and carriers will receive better profits because of lower overheads.
What does LaneAxis offer Shippers?
- LaneAxis automates contract and carrier management.
- Shippers can check the availability of drivers in real-time.
- The underlying blockchain technology ensures speed, reliability, and transparency.
- AI can automatically suggest the best driver according to the shipment and the route.
- Easier management and lower overhead due to no intermediaries.
- The option to choose the driver using data-based performance ratings.
AXIS Token Powered Solutions
Apart from these services, LaneAxis also offers a variety of features all powered by the AXIS Token. AXIS is an ERC 20 standard token that runs on a L2 blockchain to provide quicker transactions at lower gas fees. Users of LaneAxis can use AXIS token for:
Carriers will update the shipment details on the FreightVISION app, which will automatically track the shipment. Shippers can pay to use this service with USDC and track each load individually while paying AXIS for small transaction fees.
Carriers can directly connect with shippers which take fractions of AXIS to do so.
LaneAxis is collecting data about the freight industry which will be made available to shippers, carriers, and third parties such as insurance companies. Everyone can access the data by paying for it using fractions of AXIS token. This data will include waiting times, detention time data, statistical reports, insurance company details, etc.
LaneAxis will expand its toolbox to offer services such as decentralized lending, load matchmaking, spare capacity trading, insurance market, and network advertising which can all be paid using fractions AXIS token.
Users can stake the AXIS token for a time to earn APY.
LaneAxis’ solution is revolutionary for the freight industry as it will address all the problems the industry currently faces. Using the power of blockchain and AXIS token, the company will streamline the shipment process and eliminate intermediaries. LaneAxis is listed on June 30th with Probit, which helps them jump-start their operations. For more information about the up-and-coming platform, visit https://laneaxis.com/.