ChemDirect joins blockchain alliance

ChemDirect, an online marketplace serving the chemical industry, announces it has joined the Blockchain in Transportation Alliance (BiTA), an organization dedicated to determining best practices and standards for blockchain in the transportation industry. BiTA’s members include Daimler, FedEx, SAP and Uber Freight among dozens of other global brands. ChemDirect brings deep supply chain and chemical industry expertise to the Alliance.

Blockchain is a game-changer for supply chain management transparency. Jon Vorabutra, ChemDirect co-founder and COO explains it this way. “Every time a product changes hands, the transaction can be documented, creating a permanent history of the product, from manufacture to sale. This could dramatically reduce time delays, added costs, and human error that plague transactions today. Smart shippers are finding ways to leverage these innovations to increase profits and strengthen relationships across the supply chain.”

Current chemical distribution channels do not reflect the modern advances of ecommerce. Traditionally slow to change, the chemical industry is positioned to see substantial benefit as more small and medium size businesses take advantage of online opportunities to grow their companies. By offering buyers immediate access to manufacturers, ChemDirect removes friction in the purchasing process and increases operating efficiencies. As co-founder and CEO Tyler Ellison put it, “Habits only change when life gets easier, more profitable, or both. ChemDirect exists to make this a reality for manufacturers and buyers.”

By creating an ecosystem of trusted suppliers across a global network, ChemDirect is establishing an innovative marketplace focused on providing 24/7 customer assistance, end-to-end order transparency, comprehensive logistics, and a completely digital experience. Blockchain technology enables companies to identify and track transactions digitally and share this information across a distributed network of computers. For the transportation industry, blockchain enables participants to more effectively track goods and freight across the supply chain. Blockchain also allows transportation and logistics companies to operate in a more seamless and transparent manner.