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Solutions Blochchain Will Affect In Transportation And Trucking Industry

  Blockchain technology is often associated with Bitcoin only, however, it is much more than Bitcoin or cryptocurrencies in general. Nowadays, there are tons of problems in administrative spheres, trade, finance world etc. that can be solved through the simple application of blockchain technology. Blockchain technology can help these industries to increase their effectiveness, efficiency and at the same time stay away from extra hassles, complications, and corruption. For instance, nowadays, in the transportation sector companies have to wait more than a month in order to receive a payment (for an average invoice). The administration costs that are paid to various third parties keep increasing and eventually become a larger share of the overall costs that are incurred by the companies. There are various challenges that come up while coordinating the supply and the demand, which results in trucks driving billions of kilometers without any load or with a very light one. The most interest