ShipChain, the blockchain platform disrupting the trillion-dollar freight industry, announced its membership in the Blockchain in Trucking Alliance (BiTA.) In doing so, it also made clear its intention to partner with other major players in the logistics space, like UPS, in order to scale unified transport management as far and wide as possible.
At a high level, ShipChain provides a decentralized platform to manage trust and access across the entire international supply chain. It is empowering shippers with tools that provide a level of transparency and security that the industry has never seen before, many of which are found intrinsically in frontier blockchain technology.
Using this new system of trust and access management, ShipChain aims to supplant the need for costly and error prone freight brokers. Carriers can simply use the resources on the ShipChain platform to find shipment opportunities, and, in just a few clicks, intelligently route and mobilize their teams. This disruption will not only save stakeholders time and money, but also provide a clearer lens into each step of the process so that no customer is left in the dark.
Furthermore, it is eradicating many of the problems around fraud and theft, which costs buyers in the United States over $30 billion annually, by implementing a smart contract that automatically confirms and verifies each and every stage of a shipment’s journey. Gone are the days of entrusting humans to handle information access and reliability. The future of transport is automatic, decentralized, and runs on blockchains, it believes.
The team is led by strong industry experts who have accumulated years of experience in and around the world of logistics, as well as building blockchain applications. John Monarch has been a major part of the industry for virtually his entire life.
“We’re excited about the technology and the all-star team we’ve assembled to tackle the biggest problems facing the global logistics industry,” said Monarch. “Our alliance and membership with BiTA only further solidifies our commitment to bringing blockchain technology to an industry that sorely needs it”
Chief Marketing Officer Brian D. Evans, has tons of experience in distribution and marketing. He is an Inc. 500 Entrepreneur, ranked as one of the top influencers in the world on Forbes, and has spent over 18 years in online advertising having acquired millions of users for various apps over the years.
ShipChain rounds out the team with Roger Crook as the Chief of Strategy, who was the Global CEO of DHL Global Forwarding, Freight leading the world’s largest freight forwarding and road freight company, and a management board member of DeutschePost DHL (DHL’s parent company.)
They also have managed to recruit an impressive number of influential hands-on advisors to serve on the board. Most notably is the inventor of the infomercial and one of the original Sharks on ABC’s Shark Tank, Kevin Harrington. Harrington has launched over 500 products resulting in more than $5 billion in sales worldwide. Al Pettenato, the current VP of XPO Logistics and previous Senior Vice President of North America of DHL, also sits on the advisory board, bringing with him over 20 years of diverse management experience to add to the team. And last but not least, Steve Schoch, the former CEO/CFO of Miramax, and former CFO of Amgen (#123 on the Fortune 500) who adds one of the brightest financial minds in the world to ShipChain’s advisor team.
What is most exciting about ShipChain’s announcement, above and beyond its team and technology, is how they are accelerating the overall vision of BiTA which is to “bring together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology.”
With the participation of ShipChain, and other major enterprises in the space, BiTA will be able to create an open forum for the development of blockchain standards and general education for the freight industry. This is an important step in revolutionizing and optimizing the freight industry once and for all.
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