Fraight AI, the industry’s first AI-enabled freight brokerage, announced today that it has joined BiTA. Fraight specializes in current applications of next generation technology, including Artificial Intelligence and Blockchain.
Blockchain in Transport Alliance (BiTA) (BiTA) is the first of its kind: an organization created by transportation and logistics industry leaders with the unified mission of developing a standards framework for blockchain, educating the market on blockchain applications, and encouraging the use of those applications through exemplary implementation.
Fraight Founder and CEO Parker Holcomb currently serves as the Chairman of TIA Blockchain Committee. He will be presenting alongside FreightWave’s Daniel Pickett at the TIA 2018 Capital Ideas Conference on April 11th in Palm Springs, CA.
“Our team at Fraight AI is excited to collaborate with other future focused companies to help move our industry forward. We realize that supply chains have a need for innovation and believe that it will take an industry wide effort to understand the best way to get there. As a BiTA member we look forward to sharing our technology expertise and learning from others on how to continually innovate in alignment with our customers and carriers.”, says Holcomb.
In essence, blockchain is a type of digital ledger technology (DLT) comprised of unalterable, digitally recorded data called ‘blocks’ that are shared between a privately or publicly distributed network. Once recorded via a cryptographic signature, the data in any given block cannot be changed without the alteration of all subsequent blocks, which requires the consent from the other network participants. The results are a transparent yet incredibly secure method to record any number of processes from financial transactions like bitcoin to identity management and asset tracking, both a common occurrence in the facility management world.
Fraight AI combines 75 years of supply chain experience with artificial intelligence to create a technology-enable freight brokerage that delivers access to reliable, hard-to-find carriers at a time when the transportation industry has failed to take advantage of innovation. Fraight AI is headquartered in Chicago, IL and provides full truckload services for all of North America.