Tag: supply chain

Truckers Revolt Against Brokers and Bad Pay; LaneAxis Shareholder Shares Delivery Nightmare

Small and independent truckers are absolutely fed up – especially with freight brokers. As the COVID-19 crisis has unfolded, freight rates have plummeted, all while drivers literally put their lives on the line to keep their families fed and store shelves stocked.

Anger boiled over last week when large groups of drivers staged highway protests in Los Angeles, Phoenix and Houston. Drivers at all three locations were cited for obstruction of traffic, with one Houston protestor charged with inciting a riot.

“The brokers are the ones who are breaking the economy and breaking truck drivers; they are killing us, literally,” independent driver Addiel Santos told FreightWaves. “Brokers [were] paying for trips from Houston to Midland-Odessa like $1,800 to $1,900 before. Right now they are paying $700.”

The drivers are accusing many freight brokers of price gouging during the pandemic. A petition has been set up on change.org, calling for the government to crack down on the largely unregulated freight brokerage industry. Most notably, they want to require brokers to disclose what their shipping customers are paying them per freight movement, thus revealing the profit margin between what brokers are bringing in and paying out to drivers/carriers. Currently brokers are allowed to keep that a secret.

More protests are scheduled for Friday, May 1, in Los Angeles, Chicago, Washington and elsewhere under the banner and hashtag #MayDay.

These protests dramatically underscore what LaneAxis has long advocated – and is now building: a shipper-to-carrier direct network that cuts out the need for freight brokers altogether.

As we’ve all seen first hand, the direct model works and is ingrained in our current way of life. Think of Netflix cutting out Blockbuster, or travel sites like Orbitz cutting out travel agencies. That’s precisely what LaneAxis is doing to intermediary “managed freight services” such as brokers. Bypassing freight middlemen creates transparency and trust between shippers and carriers, while eliminating inefficiencies and unscrupulous behavior.

LaneAxis shareholder Richard Moore recently posted a comment to our StartEngine page (unsolicited), describing his recent experience with the U.S. Postal Service losing THREE of his packages, then informing him they had no idea where those packages were. This is another example of bungled brokering.

And it’s not just the USPS. What Richard and many others may not realize, is that many organizations such as Amazon, FedEx, UPS, Walmart and other huge companies outsource excess loads to freight brokers as well – and once they do those millions of daily truckload shipments also go largely untracked.

The LaneAxis platform represents a fundamental shift in the way freight movements are managed and monitored. By connecting shippers directly to drivers/carriers, as well as providing real-time tracking, electronic rate confirmations, instant proof of pickup/delivery, e-docs, and much more, LaneAxis is paving a better way forward for the U.S. freight industry.

We invite you to watch the below video, posted just a few days ago, to get a true glimpse of the anger and frustration drivers are facing with the current freight market – particularly with freight brokers. LaneAxis is not affiliated with this driver, but we found this to be a powerful expression of what’s happening out there.

PLEASE NOTE: The video contains several expletives by the driver as he discusses his frustrations. We chose to share this anyway because we feel this driver speaks from the heart and from a place of knowledge. We don’t want to censor his passion, and we think you’ll agree why when you watch his message. Please take this into consideration as you choose where (and how loud) to watch the video.

To learn more about LaneAxis – and invest in the future of transportation – visit our campaign page at startengine.com/laneaxis-inc.

AXIS Token

Direct Freight Payment via AXIS Token/Blockchain and Automated Trucks/Drones

AXIS Token

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.

LaneAxis currently owns 1.3 billion AXIS tokens held in cold storage. You can view the AXIS token listing by clicking this Etherscan Link.

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.