Fr8 Network

Additional information

Token

Fr8token

Price

1 Fr8token = 0.15 USD

Platform

Ethereum

Accepting

ETH

Country

USA

Whitelist/KYC

KYC

Tokens for sale

100,000,000

Links
Whitepaper View Whitepaper
Website https://fr8.network/
ICO Listing last updated on: June 29, 2018
ICO Starts on: Apr 01, 2018
ICO Ends on: N/A
Rating: 3.1/5
ICOBench.com rating: 3.1/5
ICODrops.com rating: N/A
ICORanker.com rating: N/A
ICORating.com rating: N/A

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: ยท 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. ยท 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. ยท 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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