GlobalTranz Announces Membership with Blockchain in Trucking Alliance (BiTA)
What could be the most promising organization for the trucking industry’s long-term success just gained a new member. GlobalTranz Enterprises, a leader in providing freight-management solutions, recently announced they’ve joined the Blockchain in Trucking Alliance.
Formed in 2017, BiTA was created with the intent of combining the best minds and resources in the industry. Their goal is to usher in blockchain technology to trucking. The young-but-promising tech has great potential, and BiTA’s standards and educational initiatives serve as a catalyst for blockchain development.
The blockchain functions as an open and distributed ledger that records transaction history with transparency and reliability. The connectivity offered by this solution can mean big things for trucking’s supply chain. It could also mean the refining of many standard operations within the field.
Things like getting a truck or getting paid could be streamlined, as the identity-verification capabilities the blockchain offers could automate a lot of standard contractual processes. This means improved efficiency and less waste for any carrier that makes use of the technology.
Greg Carter, CTO of GlobalTranz, said: “Developing standard transactions using blockchain technology within our industry has potentially the same positive impact as that of X-12 EDI, EDIFACT and other standards used today. By joining BiTA, we hope to work with others in the alliance to produce blockchain applications that can become an industry-wide standard leading to improve partner relations.”
GlobalTranz is a tech-driven freight brokerage company, based in LTL, full truckload, expedited shipping services, and third-party logistics. They’re a leader in market innovation in the area of logistics, and their technology optimizes freight movement and coordination between shipper demand and carrier capacity. They were Transport Topics’ 13th largest freight brokerage firm in the U.S. for 2017.
BiTA is an organization dedicated to dedicated to education, promotion, and encouragement for carriers to adopt blockchain technology. Given GlobalTranz’s distinct presence as a leader in their field, their presence within BiTA will provide many benefits to the organization.
Blockchain technology is already being looked at as a vital necessity in the future for trucking. With many carriers embracing new technologies as a way to keep their companies growing, it is likely BiTA will add many more members in the future.