Arke Technology, a company dedicated to improving driver retention, has joined the Blockchain in Transport Alliance (BiTA). This membership will allow it to influence the future of transportation technology by taking part in the development of blockchain technology standards and education for the freight industry.
As Arke Technology and the over 200 other BiTA members are looking toward the future, they all see the need for common standards and protocols in blockchain technology. This technology will disrupt every facet of the transportation industry from the contracts signed to the vehicles driven. Once developed and accepted, blockchain protocols will support constant, transparent, and trusted information sharing between every stakeholder in the industry. It will make data more easily accessible and therefore allow that data to be more useful throughout the supply chain. BiTA was founded in the spirit of embracing this movement into the future together.
“Blockchain technology has been accepted in many other areas from financial transactions to sharing Google Docs. Blockchain will cause a revolution within our industry and BiTA is here to enable us to evolve together. Down the road, these standards will be commonplace in our industry; it is our responsibility to be involved in their development,” said Tyler Mantel, Arke Technology CEO, as he spoke about the blockchain movement. “Here at Arke, blockchain technology is very important to us. We are able to provide our customers valuable insights, improving their day-to-day business, while ensuring consistent data security.”
Similar to BiTA, Arke Technology’s focus on driver retention was birthed from industry necessity. The transportation industry has a driver turnover rate of 90% per year, causing a yearly loss of $125 billion. In order to combat this issue, Arke utilizes the data that haulers are already collecting in order to make insights which not only combat driver turnover, but also improve driver performance and satisfaction. Data, however, is a valuable resource that needs to be protected. That is where BiTA comes in. The blockchain standards and understanding that will come out of BiTA will enable the transportation industry to move into the future with security and a sense of trust.
Arke Technology encourages everyone who has any stake in the transportation industry to join BiTA. Tyler expressed, “The blockchain standards developed here are going to revolutionize our industry, your industry. The future is coming; you should be a part of it.”
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