DAT Solutions has joined the Blockchain in Trucking Alliance (BiTA). The Alliance is promoting blockchain technology and standards in the transportation industry. DAT operates North America’s largest digital freight marketplace.
BiTA plans to foster the development of uniform blockchain standards, through increased collaboration among transportation industry leaders. Blockchain technology creates a shared ledger, that digitally documents the transaction history among all parties involved in that blockchain, with the information stored as a continuously evolving database. Blockchain technology is both decentralized and secure, promoting trust among all parties involved in the virtual interactions.
As it relates to the transportation industry, blockchain is envisioned to support real-time, transparent information sharing among shippers, carriers, freight brokers, vendors, and other stakeholders. For example, blockchain participants could update tracking information, expedite payments and contracts, all to create a more connected and more efficient supply chain.
“For almost 40 years, DAT has been committed to removing inefficiencies from freight transportation and logistics, and we bring this tradition of innovation and customer enablement to the Blockchain in Trucking Alliance,” said Fergus Caldicott, vice president of technology at DAT. “Our goal is to help shape these emerging technologies, so that our customers’ online and real-world transactions can be integrated into a seamless, digital flow of information.”
DAT operates the largest truckload freight marketplace in North America. Transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights derived from 177 million forecasted freight matches in 2017, and a database of $33 billion of market transactions. Related services include a comprehensive directory of companies with business history, credit, safety, insurance, and company reviews; broker transportation management software; authority, fuel tax, mileage, vehicle licensing, and registration services; and carrier onboarding.
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