Capital Logistics, a leading national non-asset based logistics firm, has joined the Blockchain in Transport Alliance (BiTA), an organization dedicated to establishing best practices and standards for blockchain in the transportation industry. Other BiTA members include Descartes, Daimler and FedEx, among dozens of global brands.
Capital Logistics will bring its extensive knowledge of freight, logistics, carrier and client communications and servicing to the Alliance. Capital has been an industry leader in communications and innovation and has joined BiTA to be at the forefront of exploring and leveraging blockchain-based solutions for the industry.
Blockchain technology enables companies to identify and track transactions digitally and share this information across a distributed network of computers. For the transportation industry, blockchain enables participants to more effectively track goods and freight across the supply chain. Blockchain will allow transportation and logistics companies to operate in an increasingly seamless and transparent manner. It can also help to create new revenue streams and value for customers by enabling a system of completing transactions, tracking shipments and managing fleets.
“Blockchain technology will transform the supply chain by introducing greater transparency, innovation and efficiency,” said Patrick Duffy, president of BiTA. “Members like Capital Logistics are key to BiTA’s success. The collective knowledge, insight and experience of Alliance members will help enable the best uses of blockchain in the transportation industry.” Duffy continued, “Capital Logistics is a rapidly growing player in the logistics space because of its ability to innovate and exceed its clients’ expectations. It is the kind of BiTA member that will help ensure the development of blockchain-based systems, and these systems will help create meaningful value for a diverse set of industries leveraging blockchain for transportation and freight logistics.”
“Blockchain is already entering our marketplace, and the potential for the technology to revolutionize transparency, traceability and efficiency for the logistics sector is clear,” said Jeff Gerson, Founder and CEO of Capital Logistics. “By partnering with BiTA, we can both benefit from, and contribute to, the conversation around blockchain. We can contribute the knowledge of a staff of 50, servicing client needs from Fortune 100 brands to family farms. Simultaneously, we will be at the leading edge of adoption and innovation in blockchain.”
Capital Logistics was founded in 2009, with a mission of improving quality, service, communication and reliability in the logistics industry. Headquartered in White Plains, New York, the company is a leading provider of both domestic and international logistics, with specialty divisions in temperature-controlled solutions, marine logistics, international freight forwarding and customs clearance.
Founded in August 2017, BiTA has quickly grown into the largest commercial blockchain alliance in the world, with nearly 500 members that collectively generate over $1 trillion in revenue annually. BiTA members are primarily from the freight, transportation, logistics and affiliated industries. Alliance members share a common mission to develop a standards framework, educate the market on blockchain applications and encourage the use of those applications.