Startup company sees trust in blockchain-based asset tracking solution

DETROIT. As industry begins to operate in a world expecting transparency, companies that can deliver that for both assets and individual products – and to do so with absolute trust – have an opportunity to be early leaders in the space.

14bis Supply Tracking is hoping to be that company. Founded by Eleanor Mitch, CEO, and Alexis Dames, CMO, the Houston-based startup is building a tracking solution, putting it on a blockchain, and integrating with back-office systems to remove multiple steps in the process.

“We provide the interoperability so you don’t have to pull the information into an Excel document,” Mitch explained to FreightWaves at the company’s booth at the Automobili-D section of the North American International Auto Show in Detroit.

The company got its start in 2017 by building a prototype for the U.S. Air Force. It received its seed funding from Techstars. Mitch said 14bis is now looking for companies looking for data management or parts management solutions to expand testing.

The 14bis solution also provides analytics and a visual representation of where the asset/product is and was throughout the process. Mitch said that anything that can be tagged – either digitally or physically – can be tracked.

The main difference between existing technologies is the ability to provide the tracking information on blockchain, which offers a trusted and secure method of ensuring that information is correct.

“We provide the additional benefits of blockchain,” Mitch said. “We create the middleware and can integrate with blockchain.”
Mitch went on to say that the solution can handle both structured and unstructured data and easily pushes the information into any ERP system.

Within the freight industry, everything from parcels to pallets to equipment could be tracked. Mitch also noted the billions of dollars of counterfeit auto parts that flow into the supply chain each year – a problem that also permeates the trucking supply chain.

“We can provide the security [with blockchain] to help companies protect their identities,” she said.

The company’s previous work in the aerospace sector earned it a mention by Insight Success Magazine as one of the 10 Most Innovative Aviation and Aerospace Solution Providers for 2018. In the recent Aviation Blockchain Challenge, sponsored by SAP.IO and Lufthansa, 14bis was named the winner of the supplier challenge.