LaneAxis is a decentralized platform that connects shippers to carriers in order to eliminate middlemen in the logistics chain. The project takes advantage of the distributed ledger technology (DLT) to circumvent all the unnecessary intermediaries in the current systems thereby reducing the cost of shipping.
The project is built on the blockchain, so all the actors in the distribution chain have access to real-time data on the state and location of shipping in the logistics chain, as well as all necessary documentation relevant to every shipment. The project also takes advantage of smart contracts to ensure the so-called “trustlessness”. This in essence means that it is a system that is built to ensure compliance from every party to contracts because they know that it is a fail-proof system that executes without partiality according to predetermined agreement. This ensures trust among all participants in the logistics chain business - shippers and carriers.
LaneAxis simplifies the logistics network using blockchain technology to reduce the cost of shipping through the creation of direct communication and work platform. This makes the contractual middlemen such as brokers that charge fees as high as 30 percent irrelevant.
The shipping and logistics network as currently constituted is slow and inefficient because it lags behind current applicable technologies. The execution of most operations is painfully slow due to the need for paperwork and because updates are done through conventional channels of communication such as email.
The result is the fragmentation of the logistic chain causing disconnections because various players, independent brokers and companies are involved. The result is that management of freight is expensive and the movement of shipping from one point to the other slow, also, due to the outdated mode of tracking and communication, parties involved in shipping do not always know the state or progress made in real-time but have to depend on others to be updated.
LaneAxis integrates blockchain technology, automation and Internet of Things (IoT) into every digital device associated with the logistics network to exponentially scale these technologies with revolutionary impact. This system enables shippers to digitize the management of the supply chain and effectively keep track of shipments, increasing efficiency, reducing fraud, as well as saving time and money.
The LaneAxis token enables financial transaction to be conducted on the distributed ledger. This creates transparency and efficiency in the system since all parties in contract can view all data and documents in real-time. Having all parties bound by smart contract, the LaneAxis ecosystem is the bedrock on which a collaborative industry-wide platform built on the blockchain will be established.
The concept of integrating blockchain, Internet of Things (IoT) and automation into the logistics chain ensures that the system becomes more transparent and efficient. This also ascertains that drivers are promptly paid on delivery of shipments, activities such as payment for fuel and parts will be handled by self executing contracts.
Documents associated with shipping will be encrypted on the blockchain making it visible to all authorized persons. For instance, insurance certificates are filed on the distributed ledger and the expiry date made apparent to be automatically renewed when necessary.
Patent Information: https://www.laneaxis.io/pat9928475.pdf
Website: https://www.laneaxis.io/
Product Website: http://www.laneaxis.com/
Whitepaper: https://www.laneaxis.io/assets/whitepaper/laneaxis-whitepaper-eng.pdf
Tech paper: https://www.laneaxis.io/assets/whitepaper/LaneAxis-Technical-whitepaper-V2.0-7-3-18.pdf
Social Media Links
Telegram: https://t.me/laneaxis
Medium: https://medium.com/laneaxisvfm
Facebook: https://www.facebook.com/LaneAxisVFM/
YouTube: https://www.youtube.com/channel/UCZykDsDoopUJAKetqexGPag
@justiceforallBitcoinTalk user: Mr.Ease
User link: https://bitcointalk.org/index.php?action=profile;u=803528
Ethereum Address: 0xfd797888c66DfEbf7bA5A6927a50F2F75Ad7175e
