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Blockchain Is Developing In The Trucking Industry

Michigan Truck Sales & Equipment, aka MTE, is located in Grand Rapids, Michigan. We offer the best-used semi trucks, trailers, and construction equipment. We are proud of our state-of-the-art, 12-bay Napa Truck Service Center that gives our customers fast service. At MTE, we understand the importance of staying up-to-date with the latest technology in our power-driven, trucking industry.

The "internet of everything" is making its way into every aspect of daily life. The trucking industry is realizing many changes with advanced technology. "Blockchain" technology is one that is being developed in many industries, and this ledger-driven technology is being steered into the trucking industry.

A trucking alliance has been formed, Blockchain in Transport Alliance aka BiTA, that is gathering experienced, technology individuals and transportation leaders to integrate this technology into the trucking industry. The mission of BiTA is to educate the entire trucking industry to realize the benefits of this transparency idea. To date, "thousands of companies have applied for membership."

A recent article found on"Blockchain will work in trucking-but only if these three things happen" by Salama, J. (2018, March 2) reaffirms that this alliance is in motion to help solve some of the most compromising inefficiencies that are affecting the trucking industry that "moves roughly 70 percent of the nation's freight per the American Trucking Association."

Per Salama, a "private blockchain" makes sense for the trucking industry that aims to establish the common ledger framework to hosts more applications such as "logistics management, asset tracking, transaction processing and more."

Inefficiencies pointed out by Salama's research are the transportation of partial or empty loads and the availability of trucks. Small trucking companies make up the largest percentage of trucking companies with a fleet of six trucks on average. Matching shippers and carriers would be a great benefit of the blockchain.

Salama reviews three things that need to happen for the trucking industry to truly reap the rewards of the blockchain technology.

  1. Total Trucking Industry Participation
  2. Smaller Trucking Companies Able to Afford New Technology and Training
  3. Data Standardization Understanding and Acceptance

Michigan Truck Sales & Equipment can help small companies replace or expand their fleet with road-ready semi trucks and trailers. Our factory-trained ASE Certified technicians will keep your entire fleet well-maintained. When you partner with us, you have the entire Napa Truck Center Service Center Network across the United States. It is always an honor to partner with you. Give us a call to begin a new partnership that will allow you to have more time to grow your business. 

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