Blockchain in Trucking and Logistics | American Trucking Association
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Tyler Jenks, co-founder of Very gave a keynote at the American Trucking Association's 2018 National Accounting and Finance Council Conference on the changing landscape in trucking. In his talk, he addressed the challenges and opportunities presented by technologies like blockchain, IoT, and artificial intelligence. Learn more at verypossible.com/blockchain
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Blockchain in Trucking and Logistics | American Trucking Association
- 1. 2018 NAFC ANNUAL CONFERENCE THE CHANGING FINANCIAL LANDSCAPE IN TRUCKING: addressing opportunities and challenges
- 2. Blockchain in Trucking and Logistics Tyler Jenks, Co-Founder of Very
- 3. Frederick Smith CEO of FedEx May 2018 “Blockchain is the next frontier that’s going to completely change worldwide supply chains.” “The consequences of not investing are extremely high.”
- 4. What is a blockchain? A blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
- 5. A blockchain is a ledger
- 6. Blockchain A blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. Centralized Distributed
- 7. Blockchain A blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
- 8. Blockchain A blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
- 9. Blockchain A blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
- 10. Blockchain A blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
- 11. Blockchain Block 55 Transaction Transaction Transaction Transaction Block 54 Transaction Transaction Transaction Transaction Block 53 Transaction Transaction Transaction Transaction Block 52 Transaction Transaction Transaction Transaction Block 51 Transaction Transaction Transaction Transaction
- 12. Blockchain Invented in 2008 by Satoshi Nakamoto in order to create the world’s first reliable digital currency… Bitcoin Limited to 21,000,000
- 13. Blockchain matters because… Digital money or Cryptocurrency can’t safely or reliably exist without it. •Solves “The Double Spending Problem •Solves “The Byzantine Generals Problem”
- 14. Cryptocurrencies •In 2009, Bitcoin traded for $0.001 •Today, it trades for $7,500 •7,500,000x in 9 years •6x per year, compounding
- 16. Smart Contracts •Ethereum and others, allow for “smart contracts” •Programmable, nuanced, automated transactions •Like a vending machine
- 17. Smart Contracts •Instant transfer of financial resources •Based on a pre-programmed trigger event •No human intermediary
- 18. IoT Devices •“Internet of Things” •Connected devices •Sensors that send data to the internet •…or to a blockchain
- 23. Peppers on Blockchain PLANTED HARVESTED BOXED LOADED BORDER 6/1/17 8/10/17 8/10/17 8/11/17 8/11/17
- 24. Peppers on Blockchain Peppers planted 6/1/18 Peppers harvested 8/10/18 Average soil temperature: 74 degrees Weight: 15 kg Boxed at 2:58 p.m. Boxed by Frank Smith Tracking #:1Z-999- AA1-01-2345-6784 Boxed for shipping 8/10/18 Package shipped to US/Mexico border 8/11/18
- 25. On moving produce from MX to USA… • US Department of Agriculture • Animal and Plant Health Inspection Service • Agricultural Marketing Service • US Food and Drug Administration • US Customs and Border Protection
- 26. On moving produce from MX to USA… • Registrations • Certifications • Bill of Lading • Proof of Prior Notice • Inspection – Pass, Sample, Notice of Detention
- 27. Upon Inspection • Regulators scan shipment • All details stored on blockchain • Results of inspection also appear • Prior detentions immediately seen
- 29. Peppers on Blockchain Crossed the US/ Mexico border 8/11/18 Delivered to warehouse in Dallas 8/11/18 Loaded onto another truck 8/13/18 Delivered to Chattanooga 8/14/18 No sample taken Passed inspection Package signed for by Julie West Tracking #:1Z-931- AA1-01-2328-6784 Package signed for by Michelle Hoffman
- 31. Timeline slide •***Create a timeline of all those events*** •List various metadata under each event •Show it becoming a bottle of Hoff Sauce at end
- 32. Timeline slide •***Show 5 timelines for each product*** •Show them becoming a bottle of Hoff Sauce at end
- 33. Thank You Tyler Jenks, Co-Founder of Very VeryPossible.com