DrayNow, the first real-time marketplace connecting intermodal freight with carriers, has joined the Blockchain in Transport Alliance (BiTA). BiTA is developing best practices and standards for blockchain in the transportation industry.
Blockchain is an open, distributed digital ledger that can record and share transactions between two or more parties efficiently, securely and permanently. Blockchain enables transportation companies to more accurately track shipments, routes and transport vehicles (in all modes) while providing a highly secure platform that permits faster processing and payments.
“DrayNow has joined BiTA because we believe blockchain is essential to future freight moves. We are excited to bring the deep knowledge and expertise of building and optimizing a freight matching platform to the Alliance,” stated DrayNow chief technical officer Tom Shawver. “We are looking forward to engaging with other leaders in the industry in order to develop the standards and framework that will benefit us all. BiTA is the leading organization establishing blockchain standards within transportation, which will result in more efficient freight movement, supply chain management and more. We are proud to be a part of the organization promoting mass adoption of this technology in logistics.”
BiTA President Patrick Duffy stated, “On behalf of the members of BiTA, I welcome DrayNow into the Alliance. I am confident that the company’s expertise in intermodal freight will assist BiTA accomplish its objectives.”
DrayNow provides technology-driven solutions for the freight industry, with a focus on intermodal. Led by industry veterans, the company operates the first intermodal freight-matching marketplace connecting freight to available carriers. The DrayNow Marketplace is accessed through a desktop interface where users can view truck capacity in real-time, post loads, track load status and obtain electronic documents immediately. With DrayNow’s mobile application, truck drivers can get turnkey access to intermodal freight, browse loads, compare rates and details, select loads, deliver loads and get paid faster.
Founded in August 2017, BiTA has quickly grown into the largest commercial blockchain alliance in the world, with nearly 500 members that collectively generate over $1 trillion in revenue annually. BiTA members are primarily from the freight, transportation, logistics and affiliated industries. Alliance members share a common mission to develop a standards framework, educate the market on blockchain applications and encourage the use of those applications.