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.
In the transportation and logistics circles, blockchain has been an enigma - a technology that holds extensive promise on paper, and yet on the flip side, is extremely hard to implement.
Stakeholders within supply chains need to realize the potential of blockchain and look to work on pilot programs that can translate into commercial applications a few years down the road.
There are a lot of companies out there and it’s a number that is likely to shrink, according to the panel. Also on the agenda: blockchain and making yourself stand out in a crowded field.
Convoy, the powerful nationwide trucking network and platform for both shippers and carriers, is partnering with FreightWaves on the first-ever Shipper of Choice Award.
Inxeption has designed the first blockchain-based e-commerce platform for B2B that catalogs and digitizes product information.
A.N. Deringer, Inc., a leading international logistics provider and customs broker, has joined the Blockchain in Transport Alliance (BiTA).
SupplyOn, an IT service provider that specializes in intelligent supply chain management solutions for discrete manufacturing in automotive, aerospace, rail, and engineering, has joined the Blockchain in Transport Alliance.
Blockchain based supply chain startup Citizens Reserve has partnered with IoT platform Smartrac to assign physical items a digital identity that can be carefully and accurately traced along the supply chain.
By joining BiTA, Daseke will be at the forefront of shaping the development and deployment of blockchain technology in trucking and logistics.
The enthusiasm was infectious. While most companies are in the exploratory phase of blockchain, we're starting to see more and more people taking action on blockchain.
Though cobalt is an integral part of our lithium-ion batteries, the extraction of the trace element is a huge cause for concern. Blockchain could provide respite by bringing accountability and transparency into cobalt supply chains.
Walking the show floor at the Detroit Auto Show is an experience that transforms you from the here and now to visions of the future.
Manufacturing supply chains must deal with counterfeit parts. One company is hoping that its blockchain-based tracking solution can help solve that while also providing transparency in the freight supply chain.
Storing real-time data from aircraft and sea vessels on the cloud has been subject to a lot of debate, as the data that gets transmitted could be hacked in by people with nefarious motives. Blockchain could be a respite.
The Blockchain in Transport Alliance announces that it is working with the IEEE Industry Standards and Technology Organization (ISTO) to assist the Alliance in its standards activities.
One of the oldest and largest privately-held transportation companies in the United States has joined BiTA.
Adding blockchain to existing order fulfillment software product speeds up event recording required for invoice approval.
A blockchain solution adds transparency to the transportation space.
David Bryan and Kari Dwyer of Keyturn demonstrated at MarketWaves 18 how their product can solve the data verification challenge prevalent along the construction supply chain.
CargoChain aims to make it easier for all the parties in the supply chain - shippers, truckers, ports, authorities, everyone, to share what data they want, with who they want, how they want, when they want. It uses BlockChain to provide security and trust.
Routeique will bring its expertise in end-to-end supply chain management to the Alliance.
Trucking companies will already be aware of the difficulties of recruiting reliable staff and according to Jackfruit Systems those difficulties will get worseover the coming decade. So the development of Fleet Operate will help match available drivers to cargo ready for transportation.
Blocklet Trusted Vehicle Applications offer a trouble free method of recording and logging critical vehicle data as the truck is operating. The system sends a data packeage that is verified and posted to the blockchain promoting trust and transparency.
Srini Vasan and Terry Beaudine demonstrate at MarketWaves 18 a blockchain-secured expedited parcel service they claim reduces costs on domestic and international shipments.
applya Occupational Strategies (AOS), a leading employment screening technology company, announced today that it has joined the Blockchain in Transportation Alliance (BiTA).
MarketWaves features DLT Labs presenting Asset Track platform to increase transparency and communication between shippers and carriers.
We dig into the latest negative news cycle, and what challenges blockchain faces heading into 2019.
The Chattanooga-based team at Block Array have launched a blockchain product they call FreightTrust, legal platform for shipping documents.
Zoof-It, a Netherlands-based company that provides a last-mile blockchain platform that instantly rewards for parcel delivery in a convenient, inexpensive and responsible way, has joined the Blockchain in Transport Alliance (BiTA).
Aries Worldwide Logistics, a Houston-based international logistics provider with over 34 years of experience, announced that the company joined the Blockchain in Transport Alliance (BiTA).