In May 2017, Deloitte tweeted that 10% of global GDP would be built on top of blockchain applications. This huge and ambitious claim was made because of the transformative nature of the technology and the effect it will have on society. For logistics and transportation, it will have a bigger impact promising to shake up the $8T industry.
What is blockchain?
To put it simply, a blockchain is like a database, it’s a way of storing records of value and transactions. However, calling blockchain a new type of database is like saying email is a new way of sending people letters. While the blockchain is a database, that definition doesn’t explain the true genius behind how the blockchain stores records of value and transactions.
We continue our coverage of the technology and the impact on the freight markets and society as a whole.
To help the education process, we have prepared a blockchain glossary.
Nasdaq listed technology firm Ideanomics (NASDAQ:SSC) has formed a joint venture with APMEN Trade Tech Co Ltd., to streamline ports in the Asia Pacific by using blockchain and artificial intelligence in the Port of Shanghai, currently the world's busiest port.
The two Koreas consider historic trade agreements in the middle of ‘Autumn Eve’, their peak shipping season.
BiTA participated in the Singapore Week of Innovation and Technology (SWITCH) 2018.
Britain’s largest ports operator looks to distributed ledger technology to ease cargo movements.
The Chicago based freight forwarder and 3PL announced that it has joined BiTA.
Financial services still the main industry testing blockchains as technology promises to ease transactions. cropping
Able Freight Services, a leading global cold chain logistics provider with 25 years in business, today announced it has joined the Blockchain in Transportation Alliance (BiTA), an organization dedicated to determining best practices and standards for blockchain in the transportation industry.
We may have seen one of the most important legal decisions in the short life of cryptocurrencies. The precedent has been set that they can be regulated as securities.
Team Worldwide, a diversified global logistics provider that offers “best in class” logistics, freight forwarding, customs brokerage, truck transportation and other solutions for its customers around the globe, has joined the Blockchain in Transport Alliance (BiTA).
Getting participants to join the supply chain is “the number one challenge by far,” says Piscini. “We’ve created the platform to incentivize players across the industry.”
Ripe.io provides enterprise blockchain technology for the food and agriculture industry in an effort to create greater trust and transparency between food producers, contributors and consumers.
Freight Management Inc. (FMI), a certified veteran-owned and family-run technology- leveraged third-party logistics (3PL) provider, recently became a member of the Blockchain in Transport Alliance (BiTA).
Freight forwarding giant needed easy way to transmit container weight data.
One of the more powerful potentials of blockchain’s transparency and efficiency is through what consumers think of as returns, and industry participants refer to as reverse logistics.
Is there a way to protect consumers in the multi-billion dollar counterfeiting black market?
CargoX used a smart contract-powered bill of lading to reduce transfer and payment times to four minutes. FreightWaves spoke with CargoX’s CEO Stefan Kukman by phone.
Advent Intermodal Solutions (www.adventintermodal.com), a leader in information technology and cloud-based software solutions for port and terminal operators and landside logistics, has joined the Blockchain in Transportation Alliance (BiTA).
ITL, a Chicago-based company specializing in warehousing and logistics, recently became a member of the Blockchain in Transport Alliance (BiTA).
Wipro Limited, a leading global information technology, consulting and business process services company, has joined the Blockchain in Transport Alliance (BiTA).
The Blockchain Research Institute (BRI) and Blockchain in Transport Alliance (BiTA) today announced a new partnership to improve coordination, cooperation and governance within their respective memberships.
Consumer expectations with regard to last-mile delivery have been evolving rapidly, and businesses need to look towards technology to address those needs.
According to a survey by PwC, 84% of respondents are actively involved in blockchain. The Blockchain in Transport Alliance (BiTA) could be the industry’s answer to the ever-pressing question of standardization—after all, 45% of the survey’s respondents believe that the issue of trust could delay blockchain.
Logistyx Technologies (www.logistyx.com), a leading developer of Transportation Management Execution™ shipping software, today announced it has joined the Blockchain in Transportation Alliance (BiTA).
LaneAxis is looking to drive efficiency in the trucking network by using blockchain to help shippers connect directly with carriers without brokers or 3PLs.
This campaign seeks to increase transparency in programmatic ad buying and support the ways the company’s brands earn consumer attention.
Salesforce, the original SaaS unicorn and the world’s leading customer relationship management platform, announced that it has joined the Blockchain in Transport Alliance.
Sharelogis Trade Services China Ltd, the leading China-based provider of logistics services and supply chain solutions, announced that it has joined the Blockchain in Transport Alliance.
The concept involves storing a multitude of various types of data within a distributed ledger network, including information about a given package's destination, its movement and transportation plans for shipment units.
By offering truck drivers and dock workers micropayments to upload data to the blockchain, Fr8 Network is changing the calculus of technology adoption and pushing the transportation industry forward.
Once blockchain technology reaches a tipping point—with or without tokens—there should be another infusion of funding in the digital ad startup space and, as a result, innovation.