Redwood joins fellow industry leaders in alliance to create blockchain market standards.
Redwood Logistics (Redwood), a top-100 3PL provider and one of the fastest growing logistics companies in North America, announced today it has been selected as the newest member of the Blockchain in Transport Alliance (BiTA). BiTA was formed by experienced technology and transportation executives to create a forum for the development of blockchain standards and education for the freight industry.
BiTA believes blockchain is one of the most significant developments for the industry since the creation of the internet. By providing more clarity and standards around blockchain through education and promotion of the technology, BiTA intends to be the leading blockchain voice for the industry. BiTA plans to create and publish its first blockchain market standards in 2018, standards that will create a blockchain implementation roadmap for the entire freight industry.
“Blockchain technology’s impact on our industry is going to be significant: it can provide increased transparency for customers and can help supply chain services providers identify fraud quickly, due to the technology’s ability to maintain a source of truth,” said Eric Rempel, Chief Innovation Officer, Redwood. “Redwood is thrilled to have a seat at the table to collaborate with other industry leaders on developing practical, real-world standards that are poised to influence the industry for years to come.”
Through engagement of the brightest minds from the most influential leaders in transportation, finance and technology, BiTA will build the first set of transportation industry-specific blockchain standards. BiTA is focused on providing educational resources and open forums to those in the industry interested in leading the evolution of the trucking industry through the efficiencies offered in blockchain technology.
Many great transactional technologies that proliferate our industry are grounded in commonly accepted standards – including EDI, ISO, and ANSI. Like these standards, BiTA believes blockchain will benefit from having the same set of market standards.
Redwood joins transportation and logistics member companies in BiTA, including UPS, FedEx and other well-known freight companies.
Based in Chicago, Redwood Logistics is a next-generation, strategically integrated logistics provider that believes every company’s needs are unique. For more than 15 years, the company has been providing solutions for moving and managing freight and sharing its knowledge across North America. Redwood helps its customers be more successful in their end markets by applying talented and motivated people, proven processes and cutting-edge technologies to optimize their supply chain management efforts.
Founded in August 2017, the Blockchain in Transport Alliance (BiTA) is a forum for promotion, education, and encouragement to develop and adopt blockchain applications in the trucking, transportation, and logistics industry. BiTA’s goal is for members to participate, discuss, create, and adopt industry standard uses of blockchain applications and to provide clarity and direction for the development of blockchain technology in the trucking industry in a manner that will create efficiency, transparency, and foster trust. BiTA standards are intended to create a common framework to help organizations develop and adopt blockchain technology.
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