How blockchain will change the face of the fleet industry

Still a relatively new kid on the block, blockchain is expected to grow exponentially in the next few years. Blockchain is a list of records or basic data structures called blocks that are linked using cryptography to make up a ledger or database that contains records. Every block verifies other blocks and the system prevents fraud because there isn’t one entry point. It also avoids the necessity of an authority for verification because the blocks can’t be changed once they have been created. This means that the information can be measured and it’s secure.

Bitcoin is the best-known use of blockchain technology, but it can be applied to sectors such as the logistics industry – and this is where the fleet industry could be affected.

Blockchain and the fleet industry

Blockchain in the fleet industry could involve a Fleet Manager, drivers, carriers, regulators, shippers and even government and customs agents. Effective blockchain could have different benefits for the industry including improved security, visibility, data accuracy and asset utilisation. A few benefits could include:

  • Maintenance: Giving Fleet Managers and other relevant parties insights into every aspect of a vehicle through its lifespan from when it comes off the assembly line through every service, oil change and parts replacement.
  • Visibility and security: Information on contracts, document transfers, the safety of items, driver information, parts and tracking will be more accessible. This will lead to more convenience, better accuracy and efficiency.

Avis Fleet solutions are a comprehensive offering that enhance every aspect of fleet management. We have solutions that help customers with everything from vehicle acquisition to maintenance, telematics and making provisions for accidents. Find out about our fleet solutions.

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