How Blockchain will change Fleet Operations

In a world where Data is supreme and Trust is essential, Blockchain is becoming the symbol of Innovation. I'm sure most people have heard the term Blockchain, but I don't think people realize the impact it can bring into today's world. Basically, the way we will perceive, manage, and secure information will never be the same. I'm sure you are aware that the world is becoming more digital by the day which only increases the need for a more secure system of transactions and flow of information. Blockchain offers a decentralized safe haven against the future wave of data breaches and manipulations. In this article, I really want to talk about the practical implications of Blockchain, and how it could potentially reshape industries, with a focus on its uses in Transportation and Logistics here at Tyson.

Blockchain technology could be leveraged by Tyson to enhance its fleet operations in several ways:

• Smart Contracts for Logistics
• Data Sharing and Collaboration
• Driver Performance and Incentives
• Carbon Emission Tracking

Smart Contracts for Logistics: Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller directly written into code. Tyson could use these smart contracts to automate and allow various aspects of fleet operations such as; freight contracts, payment settlements, and delivery confirmations. Smart contracts can automatically trigger payments upon successful delivery, reducing administrative overhead and minimizing disputes. This would be useful for when a driver shows that he has delivered somewhere it would immediately trigger a payment from the Consignee.  

Data Sharing and Collaboration: Blockchain allows secure data sharing and collaboration among multiple entities in the supply chain ecosystem, including suppliers, carriers, shippers, and regulators. Tyson can create a permissioned blockchain network where authorized parties can securely share relevant data, such as delivery schedules, inventory levels, and compliance documents. This allows greater transparency, trust, and coordination across the entire supply chain, leading to smoother fleet operations. This would be a huge jump allowing our outside carriers to be on the same page as us when it comes to ETAs and PTAs. As well as getting rid of simple question emails, allowing them to see what we can see.

Driver Performance and Incentives: Blockchain-based systems can track and analyze driver behavior analytics such as speed, braking patterns, and adherence to traffic regulations. By recording this data on a blockchain ledger, fleet managers can incentivize safe driving practices by rewarding drivers who maintain good performance records. Tyson currently offers a bonus to drivers for driving safely. Using something like smart contracts for this it could automate the distribution of rewards or penalties based on predefined criteria, creating a culture of safety and accountability within the fleet. 

Carbon Emission Tracking: Blockchain technology could be used to track and offset carbon emissions associated with Tyson's fleet operations. By recording carbon emissions data on a blockchain platform, Tyson could accurately measure its environmental footprint and implement strategies to reduce emissions. Smart contracts can automate the process of purchasing carbon offsets or participating in carbon credit trading schemes, thereby promoting sustainability initiatives. Getting rid of controllable carbon emissions would bring many benefits to the table. Some benefits of slowing down emissions would be the Environmental Impact, Public Health, and Energy Efficiency. 

In wrapping up, using blockchain in fleet operations could be a big change that brings lots of benefits. It could help companies like Tyson run their fleets better by keeping things clear, efficient, and trustworthy. With blockchain, they can plan better routes and improve everyday processes. As blockchain technology gets better, it's clear that it's going to change how we manage fleets for the better. So, for companies like Tyson, using blockchain isn't just about new tech, it's about staying smart and keeping the competitive edge in the fleet business.