Block Array LLC, a Chattanooga, TN-based startup, today announced its membership to BiTA – the Blockchain in Transport Alliance. Block Array is a blockchain-based startup focused on developing protocols, infrastructure and smart contracts required for supply chain and logistics companies to adopt blockchain & distributed ledger technologies for their businesses.
Its software is designed for both the Ethereum blockchain (both public and private), and Hyperledger Fabric. The Block Array data anchoring network enables events and actions, such as ELD records or geofence-based event triggers, to be recorded on either the Ethereum or Bitcoin blockchain, with the ability of storing at least 200 records a second in production.
Block Array is requesting 3rd-party logistics companies interested in conducting a pilot study of its mobile application to anchor certified Electronic Logging Device records to the Bitcoin and Ethereum blockchains. The cost of the pilot is free, and when the mobile application goes into production it will be free as well.
By empowering trading partners and business to business relationships with full control over their logistics Block Array can provide privacy and security in both data and business transactions using a provably secure protocol that can scale on any network with Hyperledger Fabric and Ethereum Enterprise.
Blockchain offers a shared ledger that is updated and validated in real time with each network participant. It enables equal visibility of activities and reveals where an asset is at any point in time, who owns it and what condition it’s in.
By using a Fabric deployment, supply chain management personal can get to the root issue of not only traceability, but demand forecasting. Sharing information through a typical GS1 Data-Pool would no longer be required: instead a peer-to-peer network that is both private and not seen by other network participants enables companies to share information about retail sales with a high degree of accuracy, offering a more reliable demand forecast projection.
Block Array plans on presenting its pilot study information along with an early beta of its virtualized shipping marketplace for unused shipping capacity at Transparency 18 this May.
For more information, email firstname.lastname@example.org.
Stay up-to-date with the latest commentary and insights on FreightTech and the impact to the markets by subscribing.