Consulting for a Blockchain Project in Logistics and Transportation
PixelPlex & LaneAxis collaboration driving breakthrough innovation in the transportation industry
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Our blockchain consultants evaluated the feasibility of implementing blockchain in a shipper-to-carrier direct freight network, analyzed current industry challenges, defined business pain points, and proposed a solution.
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Client’s goals and requirements
PixelPlex has teamed up with LaneAxis to advise them on building their cargo blockchain network and implementing digital currency payments.
Our client set us the goal of analyzing how to:
- Introduce blockchain functionality into an existing application by creating an environment for the utility tokens and stablecoins
- Find a way to capture and tokenize value within the network
- Enable direct negotiations, simplify fleet management and regulatory compliance, and automate contract and carrier management on the blockchain
- Create a competitive, balanced economic system with a 360-degree incentivization mechanism
- Start collecting and storing data that would be used for the development of the company's information services in the future
- Improve the platform’s reliability, speed, and security
- Reduce transaction fees and open up new monetization opportunities.
About the client
LaneAxis, a SaaS transportation company, is building the first direct brokerless freight network in the US, where shippers can connect with carriers without costly and often unscrupulous intermediaries, thereby saving significant amounts of money and time.
Since blockchain technology by its nature is meant to be decentralized, eliminating unnecessary intermediaries was the primary goal in our client’s quest to create and automate a shipper-to-carrier direct freight network. After assessing the landscape, the company turned to our blockchain consulting team with a request to conduct research and carry out the discovery phase of their project.
- Blockchain
- Blockchain Consulting
- Logistics
- Supply Chain
- Decentralization
- Transportation
Business objectives and current industry issues
The client planned to present a network that would be powered by patented software, artificial intelligence, and blockchain technology. PixelPlex joined the project to advise on all aspects of blockchain implementation and make sure that the client got the maximum benefit from the adoption of this technology.
1Our client’s immediate target is the $1 trillion U.S. transportation sector
- 2
The company’s long-term plans include entering international markets in a balanced, strategic, and phased manner
Our client identified gaps in the broker-dominated freight trucking industry that a future blockchain-based LaneAxis solution needs to address. These include:
Time-killing negotiations
Time-killing negotiations and a lack of transparency and trust between participants in the transportation process
Load capacity inefficiency
20%
The miles driven are taking place with empty trailers (amounting to more than 20 billion empty miles per year in the U.S. alone)
63%
Drivers spend more than three hours at the shipper's dock waiting to (un)load
Taking into account the peculiarities of our client's work and their goals, we aimed to thoroughly analyze their business case and offer a solution that would resolve supply chain pain points on a global scale.
Work done
The PixelPlex consulting team conducted an in-depth analysis of LaneAxis’s future solution in terms of business, technical, and financial viability, and indicated how the platform, its creators, and users will benefit from the implementation of blockchain technology.
User roles
Keeping in mind our client's goals, we defined the following user roles:
Admin
Responsible for managing users, content, order history, and the economic component of the platform
Shipper
Able to create an order for the delivery of goods and follow the delivery process at its various stages
Carrier
Can make a list of drivers, search for existing shippers in the system, add them to their list of contacts, and also apply for the transportation of goods
Driver
Able to see a list of possible deliveries, view details, and accept orders
What exactly blockchain offers to network users:
Carriers
- Freight negotiations without brokers
- Guaranteed pay, usually 24 hours after delivery
- Easier to solve regulatory and compliance requirements
Shippers
- Automated contract and carrier management
- Real-time visibility of shipments and e-documents
- High speed and enhanced security
Drivers
- Monitoring the situation at the dock in real time
- Reduced waiting times
- The ability to exchange tokens for additional information services and ancillary benefits (minting tokens is possible only on the blockchain)
Major components
Together with LaneAxis, we have decided that the platform will have three major components:
Web portal for the Carrier & Shipper roles
Website for token staking
Mobile app for the Carrier, Shipper, and Driver roles
Blockchain architecture and services
When offering this technical solution, we took into account all the client's requirements from design and functionality to security and advanced features. We wanted to select the right tools and make it easy to launch, use, and maintain the platform.
Working with LaneAxis, our blockchain consultants first needed to develop a plan for how to capture value with blockchain.
We suggested
- Tokenizing cash flows within the system
- Implementing a stablecoin solution
In order to
- Allow payment processing within the system, gradual replacement of third-party payment processors, and a granulated fee structure for the platform’s services
- Ensure the elimination of market volatility during the settlement process between shippers and carriers
We recommended the AXIS token based on the Ethereum blockchain ERC-20 standard because:
- This is one of the most widely used token standards in the crypto world with multiple possible applications
- It optimizes account usage and makes transactions much more convenient
- ERC-20 tokens offer high liquidity
- Smart contracts guarantee safety when executing transactions.
At the same time, there has recently been high demand for using this blockchain to issue tokens, so transaction fees on the Ethereum network have skyrocketed to $20 per transaction.
We aimed to provide the scalability and usability of the LaneAxis blockchain solution while also reducing transaction costs.
Our consulting team recommended using Optimism, Ethereum's Layer 2 solution. The L2 solution moves some transactions from the main Ethereum blockchain to the parallel network and only reports the minimal required information to the Ethereum mainnet.
With our client, we have also agreed that LaneAxis will use Circle USDC stablecoin for payments and escrow operations and the Ethereum ERC-20 standard for AXIS utility tokens. Payments and escrow operations will be managed by Ethereum smart contracts.
As a result, users can enjoy:
GasA significant reduction in gas charges (up to 100 times lower)
SpeedA significantly higher transaction speed
System components
A little more detail on what else our team of blockchain consultants suggested using:
Blockchain monitoring
TX Watcher, a Node.js service, was chosen for monitoring events on the blockchain and notifying the rest of the system if trigger operations are detected.
Wallet implementation
Magic Link Wallet is used as a built-in wallet address for user interaction with smart contracts. For convenience, it is implemented into the registration process as an additional final step.
Payment & Payout implementation
Our API calls Circle.io to create an additional wallet for shippers and carriers as soon as users proceed with the very first token transaction flow.
One of the client’s requirements was to make sure that the user didn’t have to leave the platform to create a wallet or perform transactions. This was quite a challenge.
We suggested using Circle.io so that LaneAxis users could perform all operations without leaving the page.
PixelPlex consultants are not afraid of difficulties. On the contrary, we are willing to take risks and challenge ourselves in order to grow with each client and new solution.
Contact us and together we will solve your problem!
Tokenomics
The initial step for creating tokenomics was the implementation of the Circle USDC stablecoin. We chose the following high-level principles for LaneAxis tokenomics:
How the AXIS token benefits our client:
Allows liquidity mining
Liquidity pool operations allow AXIS token holders to earn 0.3% on AXIS token trades
Decentralized tokenomics
The liquidity pool swap mechanism attracts token buyers and benefits IDO marketing
Easier fundraising
Solid real business + DeFi features => a unique offering attracting more investors
Thus, we implemented monetization mechanisms such as receiving a percentage of every transaction.
Ongoing development and future plans
Dream big, work hard, and make it happen. The LaneAxis & PixelPlex collaboration goes to the next level: at the end of April 2021, LaneAxis reached its latest impressive milestone – the company hit the $2 million mark in its Regulation Crowdfund Raise (Reg. CF) in just 6 weeks.
The company is setting new goals and is ready to realize more groundbreaking ideas.
LaneAxis and our blockchain team are planning to:
01
Introduce tokens for drivers
Drivers will have the opportunity to purchase additional services that will allow them to use their time and resources more efficiently. This will also motivate them to deliver the goods safely and on time
02
Launch token staking pools and create new pools
AXIS token holders will be able to stake their tokens for a specific period of time and earn a yield in AXIS tokens for their contribution
03
Create infrastructure for information services that will help enhance the liquidity of the AXIS token
The shipper will be able to pay with AXIS tokens for storing the history of shipments, for example, for a year. These services will help increase the liquidity of the AXIS token, which in the future will become a means for transactions even outside the LaneAxis platform
PixelPlex will continue to contribute to the platform and help LaneAxis reach new heights
Our team places transparency, efficiency, and safety at the top of our priorities. That’s why we are particularly proud to partner with LaneAxis and help them transform the supply chain industry with blockchain technology. We look forward to seeing how LaneAxis changes the game using disruptive technologies to eliminate major pains and modernize obsolete processes, taking another step towards a future decentralized economy.
Alexei Dulub
CEO & Founder of PixelPlex
Dedication to excellence, dedication to customer service, and a dedication to the project itself. This partnership would not have flourished without their team's genuine dedication to the project. In a matter of months, PixelPlex helped us design, refine, and optimize the integration of blockchain and tokenomics into our core system. They work fast, they work smart, and they have accelerated our road map to where we need to be.
Andrew Rivera
CMO of LaneAxis
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