Blockchain will work in trucking – but only if these three things happen
Blockchain is a shared, distributed ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible like a truck, or intangible like an insurance requirement. The blockchain that supports cryptocurrencies like bitcoin is a public network open to any investor with millions of users around the world. The blockchain we in the U.S. trucking industry foresee is a private one for shippers, carriers and brokers in the BiTA consortium.