Fr8 Network

A decentralized protocol for the freight industry

The $700B US trucking industry is the backbone of American commerce with 80% of all cargo transported overland by trucks, yet it is plagued with inefficiency and ultimately controlled by a bloated intermediary brokerage system whose incentives are not aligned with the true stakeholders. Imagine forming a blockchain platform bringing together shippers, carriers, truckers and brokers where they can place and track orders, assess performance records, compare pricing and extend credit. Add in a set of decentralized applications (DApps) linking up these stakeholders--and a new digital token speeding their transactions--and you could cut billions of dollars in inefficiencies from the $700 billion-dollar-a-year trucking industry. That is the vision of Fr8 Network, a newly formed upstart that aims to take the pain out of shipping by targeting, in particular, the $66 billion a year in fees exacted by some 16,000 middleman brokerages. Some key points: · Potential savings are huge. Trucks travel an astounding 29.6 billion miles every year only partially loaded or entirely empty--a waste of capacity even as businesses struggle with a shortage of drivers. · Cut that unused capacity in half, and we could save $30 billion a year in fuel costs and reduce carbon emissions from trucks by 100 million tons per year, 20% of their total carbon output. · By matching customers to and carriers online, the industry could sidestep broker fees that pose up to 20% of the cost of shipping goods; cut fees in half and the industry saves some $30 billion.

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Jon Fox, CEO - https://www.linkedin.com/in/jon-fox-85b58382/

Sloane Brakeville, CTO - https://www.linkedin.com/in/sbrakev/

Ling Qing Meng, VP ENGINEERING - https://www.linkedin.com/in/ling-qing-meng-90a35552/

Shankhri Balaji, CHIEF STRATEGIST - https://www.linkedin.com/in/shankhri/

Yevgeniy Spektor, LEAD ENGINEER - https://www.linkedin.com/in/yevgeniyspektor/

Barry Glasco, SENIOR ENTERPRISE ENGINEER - https://www.linkedin.com/in/barry-glasco-93243910/

Michael Zargham, PHD MATHEMATICIAN - https://www.linkedin.com/in/mczargham/

Matt Barlin, MIT TRAINED DATA SCIENTIST - https://www.linkedin.com/in/matthew-barlin/

Peter Crane, BUSINESS DEVELOPMENT - https://www.linkedin.com/in/petercrane/

Will Kamensky, COMMUNITY MANAGEMENT - https://www.linkedin.com/in/willkamensky/

White paper

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Status:

Announced ICO

Token:

FR8TOKEN

Website

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