TRAC links up with blockchain group

The intermodal equipment provider and chassis pool operator has joined the Blockchain in Transportation Alliance (BiTA), an organization dedicated to the development of blockchain for the freight transportation industry.    Intermodal equipment provider and chassis pool operator TRAC Intermodal has joined the Blockchain in Transportation Alliance (BiTA), the company said in a statement.
   BiTA, which already sports an impressive list of members that includes notable freight transportation and technology firms such as UPS, FedEx, SAP, SalesForce, C.H. Robinson, Echo Global Logistics, JD Logistics, Schneider, BNSF Railway, Descartes, project44 and Fourkites was created with the goal of developing standards and education surrounding the use of blockchain in supply chain and logistics.
   The idea behind BiTA was to bring relevant stakeholders together to discuss the best ways to develop and implement distributed ledger technology for the the transportation industry.
   “TRAC Intermodal has joined BiTA to better understand the role that blockchain can play in improving transparency and creating greater efficiencies among all the stakeholders in chassis provisioning,” Keith Lovetro, president and chief executive officer at TRAC Intermodal, said of the decision. “We see this partnership as an ideal opportunity to help develop best-in-class standards for blockchain in our industry.”
   As noted by analysts across the freight tech landscape, including American Shipper IT Editor Eric Johnson, blockchain is an exciting early-stage technology, but significant hurdles remain to its adoption in global trade and logistics, most notably because many companies and individuals still don’t fully understand what blockchain can (or can’t) do for their businesses.