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.
TRAFFIX, one of Canada’s longest-serving third-party logistics specialist, based out of Milton Ontario with offices in Toronto, Montreal, Chicago, and Dallas, is proud to announce that they have joined the Blockchain in Transport Alliance (BiTA).
"It’s fairly mind-blowing what’s happening in the industry right now," says Chris Polk, An American Trucker podcaster.
Last Friday, the Blockchain in Transport Alliance (BiTA) decided to keep its standards intellectual property open, to encourage ease of adoption.
Learning Machine Technologies, a leading global provider of blockchain-based records for institutions including MIT and the Republic of Malta, has joined the Blockchain in Transport Alliance (BiTA).
Bettina Warburg explains blockchain to a child, a teenager, a college student, and an expert in this video from Wired Magazine.
IBM and Maersk have teamed up to build blockchain solutions for the maritime container shipping industry, apparently focusing on automating costly import-export documentation.
SCLogic, a leading provider of in-building logistics systems, announced today that they have joined the Blockchain in Transport Alliance (BiTA).
International Business Machines Corporation (IBM) has rented out as many as 60 data centers worldwide for the Bitcoin-dependent enterprises using the blockchain.
FreightRover, the freight exchange and streamlined payment platform, announced today that it has joined forces with other industry leaders in the Blockchain in Transport Alliance (BiTA).
Craig Fuller, Managing Director of BiTA, says that blockchain-enabled smart contracts will facilitate more detailed, specialized transactions without the high fees of credit cards.
Singapore-based blockchain startup LALA World has confirmed a joint development project with Bermuda-based cybersecurity firm, Verifiable Identity-Based Encryption (VIBE), to secure its blockchain-enabled banking system.
Based in Ashford, AL, Alabama Motor Express has joined forces with the Blockchain in Transport Alliance (BiTA) to help with the implementation of blockchain technology in the supply chain.
FreightWaves, in partnership with the Georgia Tech Institute of Technology and the Blockchain in Transport Alliance, will be presenting the inaugural Transparency18 Future of Freight Conference, May 22-23, 2018, in Atlanta, GA, at the Georgia International Convention Center. The event promises to be unlike any previous trucking or logistics show.
The value of Bitcoin may fluctuate, but the level of energy consumption needed to mine the currency is shooting straight up. This begs the question- will countries with cheap electricity reconsider this as they are forced to look at dirty forms of power?
Mexico’s ambassador to the United States told CBS News there is a 50% chance that the end result of NAFTA negotiations will be termination of the trade pact.
FreightWaves’ readers made the past year a great one for our young brand. Today, we take a fond look back at your favorite articles from 2017.
FLS Transportation Services, Limited (FLS), a North American third-party provider of logistics solutions and transportation management services, is the latest 3PL to become a member of the Blockchain in Transport Alliance (BiTA).
The push-pull of technological innovations in transport and communications is nothing new. It’s all a matter of how the technology is adapted and brought into the current marketplace’s way of doing business.
Uberization has been a hot term to describe digital transactional brokerage. But a bigger, untapped opportunity might be available in the market
Truckers in the U.S. deserve better pay, but despite what many think, it's not the fault of the carriers that they are not getting it. The system is broke and needs to be overhauled.
MSTS has become the newest member of BiTA and promises to revloutionize the world freight payments.
Block Array LLC, a Chattanooga, TN-based startup, today announced its membership to BiTA - the Blockchain in Transport Alliance.
The failure of the venture capital sector to catch up to the innovations happening at break-neck speed might speed up its imminent demise with the involvement of blockchain-based start-up companies, claims a leading advocate of initial coin offerings.
As Dubai has started positioning itself in the global marketplace as “the metropolis of the long term,” Moeco has secured a tech partnership with UAE-based Yzerchat to test its blockchain-enabled router.
Like many carriers, Santa has been stressed about the ELD mandate, knowing that compliance is impossible and kids would not understand that the FMCSA was operating alongside the Grinch in a coordinated effort.
Rail Delivery Services, a premier provider of intermodal drayage, dedicated trucking, and consolidation services, has joined the BlockChain in Transport Alliance (BiTA).
Seaford, DE-based Trinity Logistics has joined other transportation industry giants by partnering with the Blockchain in Transport Alliance (BiTA), a recently formed group to ensure the standardization of blockchain technology in logistics.
Long Island Iced Tea Corp. today announced that the parent company is shifting its primary corporate focus towards the exploration of, and investment in, opportunities that leverage the benefits of blockchain technology.
American Truck and Rail Audits, Inc. (AMTR) announced that it has joined the Blockchain in Transport Alliance (BiTA).
Navistar delivers massive quarter, blowing away estimates and showing tremendous year-over-year growth. This reinforces the view that the freight market is strong, as carriers purchase new trucks to take advantage of freight demand.