OriginTrail, a European open-source supply chain protocol company which recently raised 22.5 million dollars, is proud to announce its new membership in the Blockchain in Transport Alliance (BiTA). BiTA is the fourth major trade alliance joined by OriginTrail, which is also member of Ethereum Enterprise Alliance, Blockchain for Social Impact Coalition by ConsenSys and GS1. BiTA membership opens new networking, business and knowledge-sharing opportunities for the OriginTrail protocol outside its existing use in the food industry.
The OriginTrail protocol is a highway to data interoperability
OriginTrail is the first purpose-built protocol for supply chains based on blockchain technology. Blockchain technology has huge potential to decentralize trust in supply chains and bring enormous benefits. To unlock this potential, the OriginTrail protocol was designed to tackle primary challenges limiting the exchange and integrity of data in product supply chains. OriginTrail delivers quick implementation of blockchain-supported data sharing in multi-organizational environments to IT providers in the supply chain industry.
“We are delighted to be admitted to BiTA,” said Tomaž Levak, Chief Executive Officer of OriginTrail. “BiTA rightly emphasizes the importance of open blockchain standards in the transportation space. For OriginTrail, this is of special interest, as interoperability of data is one of the pillars of our protocol. We will promote building on the existing body of standards developed by the GS1 organization and see how we can leverage that going forward.”
BiTA is on a mission to bring standards to blockchain
BiTA brings together stakeholders in transportation, finance and technology to offer critical input on the application of blockchain technology in the trucking, transportation, and logistics industry, and identify and overcome emerging challenges. Some of the most well-known BiTA members are UPS, SAP, Salesforce, FedEx, Uber, JD Logistics and Daimler.
“OriginTrail offers BiTA a particular expertise in the design of blockchain protocols for the food supply chain, which promise unprecedented visibility into chain of custody as well as optimized recalls,” said Chris Burruss, President of BiTA. “We look forward to engaging with OriginTrail as we develop the world’s first transportation industry-specific blockchain standards and help bring OriginTrail into contact with all of the different segments of the industry.”
OriginTrail will present the company’s protocol to BiTA members, provide them with onboarding and an open-source implementation kit free of charge. All BiTA members will gain access to the OriginTrail protocol onboarding materials, which can speed up their development of blockchain-based applications for logistics as well as make them more interconnected.
For more information about OriginTrail or to download the white paper, visit https://origintrail.io.
Stay up-to-date with the latest commentary and insights on FreightTech and the impact to the markets by subscribing.
