On July 2, 2020, dexFreight announced that they were collaborating with TruckPark to make parking reservations and payments seamless for truck drivers. TruckPark is the fastest-growing truck parking service in the US.
How the Partnership will Work
According to Jim Handoush, the President, and CEO of dexFreight, the company is adding parking services into its blockchain-powered platform. The goal is to enable truck-route optimization for carriers. According to him, the partnership will be beneficial for everyone within the supply chain including parking lot owners and carriers.
In the first phase, truckers can reserve TruckPark’s secured parking spot via the dexFreight app. In the second phase, dexFreight will use parking availability as an extra optimization parameter in its machine-learning powered route optimization algorithms for carriers.
According to the CEO and co-founder of TruckPark, Anthony Petitte, there are around 400,000 parking spots for 3.5M professional truckers in the US. Most of these truckers usually face huge difficulties when looking for secure overnight parking spots. As more drivers use reservation systems, TruckPark is working to make tens of thousands more spaces at truck stops and independent parking lots. By working with dexFreight, the company hopes to add value for its users and help drive its overall growth.
TruckPark is the Largest Parking App in the US
TruckPark, which is based in Chicago, offers the biggest single platform for truck drivers to find, reserve, and pay for a safe parking spot. The biggest region with affiliate parking lots for trucks is the Southeast and Midwest. As they expand to the rest of the US using TruckPark, a driver will enter an address and access a map that shows them detailed locations where they can find parking. They can then pay for a reservation on the space. The rates in different regions vary with an average cost of $15 per night.
TruckPark was founded in 2017 and has been growing steadily since. They work with parking lots to avail parking spaces to truck drivers. Users of the app can access over 2500 parking spots and the company has expansion plans for the entire US. Their focus, for now, is cities and states with a lot of logistics activities that face frequent shortages in parking spots.
TruckPark describes itself as a values-based company whose mission is the empowerment of drivers in reserving safe and convenient parking. They want to revolutionize the trucking sector by offering a one-stop-solution for truckers. At the same time, they want to allow parking lot owners to maximize their revenue.
dexFreight is a company with a focus on the logistics sector. They want to simplify the complex sector with blockchain-based fintech solutions for freight companies. dexFreight’s goal is the creation of a single platform where a company can handle all aspects of the logistics process in one place.
While the use of blockchain technology is growing, there is still a lot of room for growth. Companies such as dexFreight that create real-world and practical solutions are helping to drive that growth. By leveraging blockchain and artificial intelligence, dexFreight is able to create an infrastructure that allows for traceability, faster payments, capacity matching, data safety, and platform rewards.