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.
Cargill's in-house blockchain will allow you to trace the journey of your Thanksgiving turkey, from farm to table. If this experiment in giving consumers unprecedented visibility into their food is successful, it will be expanded after the holidays.
Weeks after Mastercard announced its foray into blockchain technology, American Express (AmEx) has launched its own blockchain-based payment service through the fintech startup Ripple, according to a report by Reuters.
Blockchain is digital ledger that can improve global trade security, stop illegal smuggling, and more importantly, reduce transit times currently bogged down by bureaucracy.
Building a smart contract requires coding, and incorrect code could turn a good deal into a not-so-good deal. To help alleviate that problem, McLeod Software this week introduced FlowLogix Smart Contracts.
YRC Worldwide Inc. (NASDAQ:YRCW) has joined the Blockchain in Trucking Alliance (BiTA) to help lead, develop and promote benchmark standards for blockchain applications; the next generation of secure transactions in logistics and supply chain management.
At its core, fraud stems from a lack of transparency. More and more companies look to blockchain as a technology solution for increasing transparency.
Nick Darmanchev, CEO of Archer Atlantic Global Logistics, believes that joining BiTA, “provides us with an opportunity to embrace the technology while helping to lay a foundation on which the future applications we build will conform to agreed standards."
Profit Tools Inc., a provider of Intermodal Transportation Optimization Solutions, today announced that it has joined the Blockchain in Trucking Alliance (BiTA).
GlobalTranz Enterprises Inc. announced it has joined the Blockchain in Trucking Alliance (BiTA), a group of industry executives and companies dedicated to developing and promoting blockchain technology standards throughout the logistics and trucking industry.
Today SAP SE, a global leader in enterprise management software, announced their partnership with the Blockchain in Trucking Alliance (BiTA). SAP is a German multinational corporation with 84,000 employees serving 365,000 business and public sector customers in 180 countries.
Choptank Transport, an award-winning, nationwide third-party logistics (3PL) provider announced today that it has joined the Blockchain in Trucking Alliance (BiTA) to help shape the future of logistics technology.
A push to increase detention pay has been gaining momentum in recent years in the U.S., yet detention remains a significant problem for carriers. Could the introduction of ELDs and blockchain eliminate that problem?
Fort Worth, Texas-based Apex Capital Corp, a freight factoring company serving small to medium-sized trucking companies, proudly announces its membership in the Blockchain in Trucking Alliance (BiTA).
Azuga, a leading global provider of connected vehicle and fleet technologies, today announced that it has joined the Blockchain in Trucking Alliance (BiTA).
Tadmore Transportation, a freight brokerage firm headquartered in Toledo, OH, announced today that it has joined the Blockchain in Trucking Alliance (BiTA). BiTA was established in August 2017 to bring logistics leaders together to cooperatively develop industry blockchain standards.
FR8 Revolution, creators of the FR8Star.com marketplace for open deck carriers and shippers, announced today it is has joined the Blockchain in Trucking Alliance (BiTA), a forum for the development of blockchain technology standards.
Cargo and vehicles can become damaged en route, and often carriers are on the hook for those damages. But a new startup, PEIR, is providing photographic proof of conditions to help protect carriers.
UPS (NYSE:UPS) today said it has joined the Blockchain in Trucking Alliance (BiTA), a forum for the development of blockchain technology standards and education for the freight industry.
Argus Transport Canada, a technology-driven Montreal based trucking and 3PL today announced it has joined the Blockchain in Trucking Alliance (BiTA).
"Uberization" has become a huge buzzword in the 3PL industry, but the business models of the digital brokers using apps is unlikely to have an impact on the way the industry operates. The technology of smart contracts, however, is a game-changer.
ITS Logistics announces they have joined the Blockchain in Trucking Alliance. This will allow ITS Logistics to play a role in creating a common framework and standard for blockchain technology as it proliferates into the freight and logistics industry.
C.H. Robinson, a world-leading third-party logistics (3PL) provider, announced today that it has joined the Blockchain in Trucking Alliance (BiTA) to influence the development of blockchain standards and applications in the transportation business.
Arrive Logistics, a top 75 U.S. transportation brokerage, headquartered in Austin, Texas, announced today they have joined the Blockchain in Trucking Alliance (BiTA). Arrive Logistics is the fastest growing freight broker in the United States.
P.B. Industries (PBI) has joined the Blockchain in Trucking Alliance (BiTA), an Alliance to create a common framework in order to assist members and industry participants with their organization's decision to develop and adopt blockchain technology.
DAT Solutions has joined the Blockchain in Trucking Alliance (BiTA). The Alliance is promoting blockchain technology and standards in the transportation industry. DAT operates North America’s largest digital freight marketplace.
There are some things that money can’t buy. For everything else, there’s Mastercard even for blockchain as reported by ZDNet. This opens up new opportunities for merchants and financial institutions alike to apply this technological trend to their own e-commerce-related foray into cloud-based solutions.
Dole, Driscoll’s, Golden State Foods, Kroger, McCormick and Company, McLane Company, Nestlé, Tyson Foods, Unilever and Walmart are teaming up with IBM Blockchain to identify vulnerabilities in the food supply chain in order to prevent the effects of tainted food before they occur.
eCapital, a leading supply chain financial services provider, announced today that it has been selected as the newest member of the Blockchain in Trucking Alliance (BiTA). BiTA was formed by experienced tech and transportation executives to create a forum for the development of blockchain standards and education for the freight industry. View member companies here.
Last Friday afternoon, Stifel Financial Corp.’s John Larkin hosted a conference call with Blockchain in Trucking Alliance (BiTA) Founder Craig Fuller, President Chris Burruss and 228 industry participants to discuss how BiTA will work as a forum to create standard protocols and procedures for supply chain participants as the industry shifts to blockchain over the next 3-5 years.