“As a company that provides a service that sits at the intersection of both shipper and carrier data, we are excited to get in on the ground floor of the blockchain standards setting and adoption discussion. We can’t audit for our clients without integrating shipping, financial, and product data. Any changes to how that data looks, flows, or is exchanged is of critical importance to us. We understand that blockchain technology is transformative and, as such, is an important strategic consideration for us. We want to be involved as the technology develops, and feel we have some unique expertise to offer to the standards development effort as well,” says AMTR CTO Jim Sacrey.
A blockchain is a type of distributed ledger, comprised of unchangeable, digitally recorded data in packages called blocks. Each block is then “chained” to the next block using a cryptographic signature. This allows blockchains to be used like a ledger, which can be shared and accessed by anyone with the appropriate permissions. The built-in security mechanisms of blockchain make it extremely difficult for hackers to compromise servers participating in the network where the distributed ledgers are stored.
BiTA will build the first set of transportation industry-specific blockchain standards by engaging with the brightest minds and the most influential leaders in transportation. BiTA standards are intended to create a common framework to help organizations develop and implement blockchain technology. For AMTR, partnering with BiTA is an exciting opportunity to be closely involved in an industry-changing effort, to stay better informed for our clients, and to gain more insight about how technologies and standards will evolve to incorporate blockchain technology.
Founded in 1979, AMTR is a leading provider of expert-based, after-payment freight audit services. As the “Home of Smart Auditing®,” our difference in the industry is that human, transportation experts (vs. computer-based systems) lead every audit. Although enabled by leading-edge, data mining and analysis technologies, our experts can “find” and “know” what computer algorithms cannot alone, recovering millions in freight cost dollars for clients working behind some of the most technologically advanced systems in the business.
Stay up-to-date with the latest commentary and insights on FreightTech and the impact to the markets by subscribing.