A major feature to the LaneAxis Network which several of our members have inquired about is the future payment process within the network itself.
LaneAxis is focused on removing financial bloat and driving efficiencies into every aspect of the supply chain. One key component of that effort will be the direct freight payment. As the driver network grows, FreightLINK™ will allow shippers to connect directly to drivers/carriers, with the AXIS token being utilized for the direct payment. In this way, the AXIS token will serve as both a blockchain API access key and an intra-network payment mechanism. The shipper-carrier contract will be stored on the primary blockchain, while a side chain will verify load-level details of the pickup, delivery, and other key documents such as insurance certificate verification. This will enable virtually instant payments to drivers/carriers, a process that currently can take 30-60 days to complete. The only current alternative for smaller, independent carriers – which make up 97% of the U.S. trucking workforce – is to pay a 2-5% per load freight factoring fee to get paid sooner. These are all utility applications of the AXIS token. We plan to file the token as a Security Token Offering (STO) with the SEC later this year. Once the offering is approved, LaneAxis will list the token on various exchanges, allotting a set amount of tokens for sale each month, then reporting AXIS token sales as revenue to all required agencies including the SEC and IRS.
Below is a schematic rendering of our Smart Contract, which will standardize, secure and automate all shipments:
LaneAxis is developing the ability to connect to any Electronic Logging Device (ELD) in any truck cab/delivery mechanism. This will make the LaneAxis solution compatible with future technology like autonomous vehicles, drones etc. With or without a driver the core LaneAxis software will confirm the pickup/delivery & all KPI data sets, as well as continuing to track all movements in real-time. We have gone to great lengths to “future-proof” our solution.
While much of the business world has come to a standstill, LaneAxis continues to drive forward in our quest to reinvent freight transportation.
Visit startengine.com/laneaxis-inc to learn more and invest in the future of transportation.