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Carrier Connection: Understanding Blockchain in Trucking

Conceptualized in 2008, a blockchain is a growing list of records referred to as “blocks”, which are linked through cryptography, a technique used to achieve secure communication. Very few technologies have gained so much attention in such little time as blockchain, with many believing it has the potential to cut the cost and lower the risk of fraud worldwide by making certain processes run faster, be less prone to errors and easier to trace. Initially utilized as an accounting platform for the cryptocurrency known as Bitcoin, blockchain creates records that cannot be tampered with or deleted, utilizing verification methods through participant networks, or distributed nodes as opposed to a bank or credit card company.

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