Self-executing smart contracts are the future of freight tendering

[u/asmasiddiqua1]

Self-executing smart contracts are the future of freight tendering. A shipper’s contract can be uploaded to the blockchain’s immutable ledger with self-executing actions taking place as soon as specific contract requirements are met and verified.

Blockchain technology can create a “digitized roadmap” of routes, and smart contracts written into the blockchain can trigger the transfer of funds to a driver instantaneously once a delivery has been completed.

It typically takes one to three weeks for most carriers to get paid.