Recently, the trucking industry has turned to cryptocurrency to solve some of its biggest issues. According to an article on Yahoo Finance titled “Truck Industry Gets Real-World Crypto,” several companies are using cryptocurrency to tackle problems such as payment processing and driver shortage.

One company, Fr8 Network, is utilizing blockchain technology to streamline payment processing for trucking companies. Its CEO, Sloane Brakeville, says that “The trucking industry is built on trust and relationships, but payments can often take weeks to process. By using blockchain, we can increase transparency and speed up payment processing, which ultimately benefits everyone involved.”

Another company, BitLoad, is using cryptocurrency to address the driver shortage issue. BitLoad’s founder and CEO, Kevin Madden, explains that “With our platform, drivers can be matched with shipments based on their location, availability, and desired pay. Payment is then processed in cryptocurrency, which eliminates the need for intermediaries and ensures that drivers are paid fairly and quickly.”

The use of cryptocurrency in the trucking industry is still in its early stages, but it has the potential to revolutionize the industry. As Brakeville notes, “Blockchain technology can bring a level of transparency and trust to the trucking industry that has been sorely lacking. It’s an exciting time for the industry, and we’re thrilled to be at the forefront of this innovation.”

Via The Impactlab