How Blockchain will help the Trucking/Logistics Industry deal with the ELD Mandate
At Block Array we are using blockchain technology stacks like hyperledger fabric or ethereum to help supply chain companies operate better. Trying to accomplish that mission means having clear use cases where a blockchain would actually help the company more than a traditional solution.
Our first use case: Detention Payout Resolution.
Detention happens when a truck driver stays at a pick-up location longer than what was agreed upon when the freight pick-up was scheduled. Add the fact that drivers now have the Electronic Logging Device mandate to comply with, and you have truck drivers earning less money since they can’t make up lost time sitting for a load by driving more that week.
We want to make it easy and fast for truck drivers to get paid for detention time.
Just look at how many loads involve detention over the course of 30 days.
Now add the reduction in miles per week drive by truck drivers
Now you can see why truck drivers hate ELD.
By anchoring ELD records to our blockchain using event-based triggers such as GPS, Geofencing, and more we can create a record trail detailing what, when, where, and who. Having an immutable and trust-less record keeping that blockchain provides will absolutely aide in the dispute resolution process for detention payouts.
We are also working on creating a detention factoring service in which we can purchase detention payout claims much like an invoice factoring company buys invoices to pay trucking companies. Truck drivers wont even have to worry about resolving the disputes themselves: we will take care of it for them.
This is just the beginning of the solutions we are providing the supply chain and logistics industry using blockchain technologies like hyperledger fabric/sawtooth and ethereum.
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