What Is AxisToken? (AXIS)
LaneAxis aims to develop a unique brokerless, shipper-to-carrier, direct freight network in the United States. The platform seeks to remove the need for costly and inefficient intermediaries in the freight process. The network is based on patented software, artificial intelligence, and blockchain technology. The primary users of the network include shippers (such as raw materials producers, manufacturers, and retailers) and carriers (trucking companies).
The freight industry in North America is currently plagued with many issues, including:
Inefficiency and lack of transparency – It takes hours to exchange a shipment between carrier and shipper.
Shortage of drivers
Increasing rates due to regulatory compliance, such as electronic logging device rules and random events, including weather patterns, demand surge, etc.
A various set of contractual obligations
Trust-related issues
Thus, the AXIS platform offers solutions, including:
Shippers and carriers search for and connect based on commonalities of operations and strategy.
Access to historical records of every user as per their role in the network.
Building overall carrier performance ratings and data-backed network risk assessments.
Building shipper performance scores – based on average loading and unloading times and other essential metrics.
The network integrates a mechanism of self-executing smart contracts generated between the shipper and carrier contractual relationships. The platform resolves the need for a direct freight transportation network that provides valuable data-automated shipment management and integrates seamlessly with the global supply chain.
The platform is powered by the AXIS token, the native digital currency of the network, which serves as an API (application programming interface) access key for the blockchain ecosystem. The AXIS token enables transactions and access to data and is also utilized to run applications. Drivers, for instance, earn tokens for providing their live locations and maintaining safe driving records. Similarly, shippers utilize tokens to manage shipments and monitor carrier/shipper performance scores.
History of Axis Token (AXIS)
Rick Burnett founded the AXIS platform under the company LaneAxis. The project’s whitepaper was released on May 26, 2021.
