Fleet Complete is the latest company to join the Blockchain in Trucking Alliance (BiTA) as a service charter member. BiTA is a consortium for the adoption, education and development of a standard framework around blockchain in the trucking industry.
The consortium will work to establish best practices and protocols around blockchain applications. The group will also work towards educating the market and encouraging blockchain use in the trucking industry.
Fleet Complete is a provider of global IoT provider of mission-critical fleet, asset, and mobile workforce management solutions. It echoes BiTA’s belief that blockchain is one of the biggest technological developments for the future of the freight transportation industry. Blockchain delivers self-executing transactions to liberate accounting systems and create transparency for all parties involved. With blockchain-capable transactions, the trucking industry will gain several benefits, such as immediate payments to drivers upon delivery, self-directing fuel and maintenance payments, complete automated settlements, and infinite recording of carrier history and safety.
“Joining BiTA was a natural decision for us,” comments Tony Lourakis, CEO of Fleet Complete. “We are passionate about making complicated business operations simple and easy for our customers through innovative technologies and industry-leading customer support. BiTA’s goal to facilitate the adoption of blockchain transactions in trucking coincides with our objectives. We believe our customers and partners will benefit from this collaboration, which will bring powerful fleet management innovations.”
The global commercial vehicle industry is transitioning from a product-based business model to the one that relies on customer-focused services and solutions for growth. Enabled by digitization, this transition is disrupting and transforming all corners of the industry, where innovative use of technology, such as blockchain, creates unique opportunities as well as challenges for the trucking industry stakeholders. With BiTA engaging the best minds in the transportation, finance, and technology sectors, the development of comprehensive standards is afoot to ensure smooth, effective, and efficient adoption of this transactional technology.
“We are thrilled that Fleet Complete has joined BiTA to help develop industry standards that global telematics and transportation technology companies will use for decades to come. Mobile IoT adoption of blockchain standards is a major step in ushering in the world of self-executing smart contracts in the logistics and freight industries. Fleet Complete’s leadership in the telematics space will help to set the market standard for blockchain in trucking,” states Craig Fuller, Co-Founder of BiTA.
Founding partners of this alliance include organizations such as McLeod Software, Triumph Business Capital, U.S. Xpress, Convoy, 10-4 Systems, and TransRisk, among others. Joining these industry leaders, Fleet Complete will bring unparalleled global expertise in telematics, mission-critical mobile resource management, and IoT communications to enable the creation of governing principles for the blockchain's adoption in trucking.
Over the past two decades, Fleet Complete has been heavily invested in the advancement of its comprehensive IoT platform, planning for the future needs and business growth of its clients worldwide. The company has built a value-based business model, offering fleets and mobile workforces mission-critical telematics services and solutions that enable its global client partners and customers to not only reduce significant costs but also create efficiency and bigger income opportunities. Today, Fleet Complete takes yet another leap to be at the forefront of the digitized trucking industry.