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LaneAxis is building a Shipper-to- Carrier direct network powered by smart contracts employed on the blockchain’s immutable ledger. This will drive massive, cost-saving efficiencies into the industry, along with complete transparency and integrity of data. Shippers and Carriers will no longer have to employ costly third-party vendors such as freight brokers, third party logistics groups (3PLs), and freight forwarders, many of whom charge up to a 30% fee, to handle transactions. Our recently approved U.S. patent validating our proprietary technology puts LaneAxis at the forefront of this effort.
LaneAxis, Inc., is a Delaware-based corporation. Axis Token, International is a Cayman Island corporation. LaneAxis is based in Delaware in part because we own the U.S. patent as a legal corporation doing business in the U.S. Axis Token, International is based in the Cayman Islands to facilitate a global reach for our product.
Our solution tackles a number of problems plaguing the trucking, transportation, and logistics industries. As mentioned, the primary mission of our blockchain platform is to cut out expensive intermediaries in the transportation sector such as freight brokers, third party logistics companies (3PLs), and freight forwarders, all of whom charge up to a 30% commission for their services. Further, this direct connectivity between shippers and carriers, along with the immutability of the LaneAxis ledger, will help solve the massive inefficencies, inaccuracies, and deception common throughout the entire transportation sector, particularly in the United States.
The primary targets for our SaaS solution built on the blockchain is the Shipping and Carrier communities – with the primary focus being on shippers (manufacturers, retailers, etc) who are looking to cut costs, increase visibility, increase data integrity, and ensure accountability on all sides of a freight movement.
For shippers, the LaneAxis blockchain project will represent a fundamental shift in the way they do business. No longer will they have to rely on archaic methods of freight management, such as a reliance on phone calls, emails, and faxes to confirm the status of a shipment. As a result, shippers will save a great deal of money, as well as numerous headaches, by eliminating freight brokers, reducing overhead, and automating key processes that previously required manual entry.
For carriers, the LaneAxis solution will result in simplified processes, such as having a load manifest pushed directly to a driver's smartphone. During transport, drivers will no longer have to deal with 'check calls' made by dispatchers asking for their status and location. Drivers can simply focus on driving. Further, any disputes regarding accidents, shipment delays, and the like, can be quickly resolved utilizing the real-time tracking and documentation. In this way, carriers and drivers also benefit from the accuracy and real-time visibility provided by the LaneAxis platform. For example, detention fees for drivers, primarily imposed when a shipment is late, can be dramatically reduced if the driver can relay mitigating circumstances through the LaneAxis platform, such as a delivery dock being fully occupied. Detention fees can often run into the hundreds of dollars – a serious financial burden on truck drivers. Finally, the verifiable proof-of- delivery provided by the LaneAxis platform will result in drivers getting paid quickly, often within hours, instead of the current system which results in drivers often having to wait weeks for payment. Ultimately, carriers and shippers will also benefit from algorithms that enable automatic matchmaking between shippers and qualified carriers.
LaneAxis is everywhere, because it is a virtual network marketplace where shippers and carriers can directly connect with each other to produce efficiencies and transparency. At the present time, we are building out our blockchain solution with a focus on the U.S. trucking and transportation industry.
In terms of our token sale, we believe our biggest contributions will come from players in the transportation and logistics industries, as well as from blockchain enthusiasts and experts who fully understand the benefits and utility of our solution. We aim to build a broad community of individual contributors, but are also actively pursuing large institutional organizations to contribute to the project.
Unquestionably, the most unique aspect of our project is our recently approved United States Patent: # 9,928,475. This patent, filed in 2016, was approved on March 27, 2018. The patent covers a 'Shipper and Carrier Interaction Optimization Platform.' In simple terms, the patent validates our proprietary software technology that facilitates direct connectivity between shippers and carriers. This gives undeniable competitive advantage, as well as opening up potential new revenue streams in the form of software licensing and pursuing fees for patent violators.
Our use cases focus on the shipper-carrier direct model. The process starts when the shipper uploads their contract with all carrier requirements clearly stated. A smart contract is then generated on the LaneAxis ledger, setting into motion acceptance by the freight carrier, and all subsequent milestones and requirements that will be monitored and verified by the self-executing smart contract. The numerous use cases that will be guarded by the blockchain include asset maintenance and ownership history, archived insurance documents, chain of custody of freight, invoice and settlement, driver and carrier performance ratings, proof-of- pickup, proof-of- delivery, and much more.
The primary participants in the LaneAxis blockchain ecosystem will be shippers (manufacturers, retailers, etc.), carriers (trucking companies), drivers, and regulators.
Our main software competitors are FourKites, Macropoint, and 10-4 Systems. All offer some form of GPS-based freight tracking and data reporting, along with integration into ELD/TMS systems.
Compared to these companies, LaneAxis has six primary competitive advantages:
The most obvious advantage LaneAxis has over our competitors is the move to a blockchain-based platform. The security, data integrity, and verifiable, real-time tracking and document retrieval available via the blockchain gives us a sizable competitive edge.
LaneAxis is built to cut out expensive middlemen such as freight brokers, 3PLs, and freight forwarders. Conversely, our competition caters to such third-party entities, which translates into higher costs for Shippers and lingering uncertainty and inconvenience for carriers and drivers.
We offer flexible and affordable pricing options that cater to the 90% of the logistics industry and are not married to specific company software for integration.
We have critical patents approved and pending. In March, 2018, LaneAxis was granted United States Patent no: 9,928,475 - for a Shipper and Carrier Interaction Optimization Platform. This gives us a critical competitive advantage over other companies in our space.
90% of freight movements in the U.S. are handled by smaller independent trucking companies. Most of these small carriers lack the technology to provide shippers real-time visibility into their shipment status. Many of these companies also continue to rely on outdated and time-consuming faxing, phone calls and email solutions to transact business, slowing the payment window for all parties involved. While our competition caters to large organizations, LaneAxis has finally created a solution to solve this major pain point involving small carriers.
LaneAxis is built to grow into a virtual transportation marketplace connecting qualified small Carriers, Brokers, 3PLs and Shippers, delivering massive efficiencies and revenue opportunities for all. Real-time load tracking represents a fraction of where we expect to take the LaneAxis offering. Ultimately, our goal and driving force is to build a vast and virtual transportation marketplace where Brokers, Shippers, Carriers and Drivers can interact professionally with greater ease and financial compensation for all.
LaneAxis contributes to the transportation market by providing a 9-trillion dollar solution to an industry that is currently antiquated and plagued by massive cost and operational inefficiencies.
LaneAxis is building a Shipper-to- Carrier direct network powered by smart contracts employed on the blockchain’s immutable ledger. This will drive massive, cost-saving efficiencies into the industry, along with complete transparency and integrity of data. Shippers and Carriers will no longer have to employ costly third-party vendors such as freight brokers, third party logistics groups (3PLs), and freight forwarders, many of whom charge up to a 30% fee, to handle transactions.
We actually chose NOT to go the ICO route, and instead chose to go the ITO route – Initial Token Offering. That’s because the AXIS token is a true utility token in that it provides API access to the LaneAxis blockchain ecosystem. As the token is utilized, its utilitarian value will increase, while the cost for all participants will decrease. Clearly this token raise is critical to achieving our mission of creating the first global transportation blockchain.
Simply put: selling out every tier of our token sale, which will fuel rapid development of our blockchain solution. Our milestones during the token sale also include reaching specific marketing goals, as well as traveling the globe informing blockchain enthusiasts about the LaneAxis blockchain platform and Token Sale.
One of our first priorities will be launching an extensive marketing effort to build the community of drivers needed to make the project a true success. By early 2019 we expect to start adding our first shippers to the network to begin beta testing of the system. After that it’s a matter of systematically adding key functionality, such as predictive load matching, insurance blockchain beta testing, pushing important data sets to the blockchain such as ETA and load confirmation. We fully expect our blockchain platform to be fully functional, with smart contracts managing the entire process for the first real-time load with the LaneAxis blockchain solution. After that we fully intend to take our solution global.