Fullbay, a cloud-based management platform for independent truck shops, has joined the Blockchain in Trucking Alliance (BiTA), formed by seasoned logistics and technology professionals who will work together on the first set of transportation and trucking blockchain standards.
Since 2014, Edge Logistics has searched for new, innovative and time-saving ways to create better efficiency and transparency with its carrier network and to continue that tradition, the company has joined the Blockchain in Trucking Alliance.
TMW Systems is working on blockchain-enabled products and gave a demonstration and update on how that work is progressing on Friday.
Blockchain offers a number of opportunities within freight management to improve cash flow. Pay per mile insurance coverage is one new concept, but that same philosophy can be applied to vehicle leases, perhaps changing the way fleets pay for their vehicles.
Ever since Bitcoin gatecrashed into the financial market scenes in late 2009, the technology underlying the virtual currency has had people talking. Blockchain, a ledger of records arranged in data blocks, uses cryptographic validation to link themselves together, resembling an unending chain, and it is disrupting the way FinTech market works.
The supply chain stands at the crossroads of innovation, with the impact of technology felt in different micro-niches. Here is a look at some of the technologies that are showing considerable potential and looking to change the facade of freight hauling forever.
Paper Transport, Inc. has been accepted as a member of the Blockchain in Transportation Alliance. Paper Transport, Inc. choose BiTA because of the alliance’s commitment to building a standard communication framework for the next generation of logistics providers.
Bitcoin is super-hot and has fended off any real threat to its meteoric rise. We examine what has fueled this factor and how it impacts the viability of blockchain in the logistics sector.
Coyote Logistics, a UPS company and leading global third-party logistics service provider, announced today that it has joined the Blockchain in Trucking Alliance (BiTA).
For the uninitiated, systems built on cryptocurrency can be unfathomably complex, with confusion exacerbated by their constantly changing nature. Unfortunately, in the world’s modern business climate, understanding these intricacies is critical to nurturing a thriving business. There may be no aspect of technology that is more greatly tied to this truth than that of smart contracts.
All agricultural carriers must now be in compliance with the Sanitary Transportation of Human and Animal Food rule, commonly called the “Sanitary Transportation Rule.” If you are a smaller carrier, though, complying with that rule comes just before complying with another – the ELD mandate.
All agricultural carriers must now be in compliance with the Sanitary Transportation of Human and Animal Food rule, commonly called the “Sanitary Transportation Rule.” If you are a smaller carrier, though, complying with that rule comes just before complying with another – the ELD mandate.
Much has been written about the death of freight brokerages and 3PLs. This is wrong. The 3PL industry is about to change- but it won’t meet its death. It will get bigger and more important as the next generation of digitization takes place.
With the introduction of smart insurance contracts in transportation applications, companies in the freight business could emulate a similar offering to solve some of the major disruption risks involved in carrier service failures.
Federal officials iterate their belief that a transparent and efficient government is achievable through blockchain technology
Globalization and digital transformations go hand in hand. As companies expand their global reach, they must also mature digitally. Making that digital transformation is becoming easier with blockchain.
In this informative and entertaining TED talk, Bettina Warburg takes the viewer through a discussion on why this technology will change the economy and society forever.
The new Defense Department budget includes funds set aside to study blockchain and the impact of the technology in the hands of either the good guys or bad. This could be a good thing for the US logistics industry, as some of the research will probably make into the private sector.
Anyone that has ever bought a house or vehicle knows how much of a pain it is and that is assuming you have a clean title. If not, all bets are off. With blockchain, the transfer of assets could be instant and without the risks normally involved in buying and selling.
Bitcoin has been on a wild-ride and some people think the future is zero. This will be a good thing for commercial blockchain applications.
TMW Systems sees enormous potential with blockchain technology, but notes that successful implementation requires a “strong partnership with a technology provider that understands its intricacies and potential applications.”
In recent years, players in the transportation industry have embraced technology and this has greatly helped in solving the many challenges associated with manual operations, and the future is even brighter in the years to come.
As blockchain transactions begin to take hold in the general economy and the supply chain in particular, there is a growing question of how to speed financial transactions. According to Coin Telegraph, the answer may be tokens.
Blockchain has taken center stage in 2017, and we are only at the beginning. But before everyone declares blockchain the solution to all the world’s problems, two authors note that there needs to be standards and governance to make it work.
There are certain practices in trucking that are not above board and cause a lot of strain on the companies in the space. Will the implementation of blockchain smart contracts, these practices could be ended, ushering in transparency and fairness for all involved.
In the future, blockchain infrastructure will help mitigate the effect and scope of cyberattacks through its two fundamental characteristics: decentralization and cryptography so events such as last week’s Equifax breach don’t happen.
Blockchain has become the latest buzzword to enter industry lexicon. While many still may not know what it is, it is likely to be a technology that transforms trucking and the way it operates. Fleet Complete is one of the companies that has recognized its potential.
U.S. Transportation Secretary Elaine Chao is expected to unveil self-driving vehicle guidelines next weekat an event in Ann Arbor, Michigan, Reuters reported.
Blockchain is the perfect way to store maintence records, providing fleets with a complete record on everything that has happened to the vehicle from the time that it rolled off the factory floor to the time it is sold off.
FEMA disaster relief logistics highlights the need for blockchain implementation. Blockchain is an emerging technology that promises to bring transparency and visibility to transactions.
Blockchain is expected to be a massive part of the economy in the near future- but what exactly is blockchain and why should I care? FreightWaves takes a look at this emerging technology.
Blockchain is predicted to radically change the financial services sector. Deloitte Tweeted that 10% of global GDP will be stored in blockchain. For companies like Deloitte, staying ahead of the curve in blockchain technology is paramount. But what about for logistics companies?
There remains plenty of industrial activity to support continued strength for the general economy and freight demand in particular, says Jonathan Starks of FTR, in the firm’s August market analysis.
It seems as though all new platforms these days feature two common denominators – create transparency and streamline processes. Many of them are now being developed with blockchain.
22% of all freight hauled in the US is food and food related products. Brokers are now liable for ensuring that the carriers they use are compliant with new safety regulations and have been vetted properly.
Singapore might be world’s smartest city. When you think of tech, you reflexively picture Silicon Valley. While Palo Alto may reign in the west, a tiny island nation of 5.6 million leads the east… and it’s turning to blockchain.
PS Logistics, LLC, a leading national transportation and logistics company, announced today that it joined the Blockchain in Trucking Alliance (BiTA) as a charter member.
Fleet Complete is the latest company to join the Blockchain in Trucking Alliance (BiTA) as a service charter member. BiTA is a consortium for the adoption, education and development of a standard framework around blockchain in the trucking industry.
Talk about disruptive companies. Every startup in the transportation space these days is touting itself as a disruptive company. A few will become just that. Many, if not most, will not. But few are also introducing a technology, let alone a service, that is disruptive.
Blockchain entrepreneurs have an opportunity. The logistics industry is ripe for disruption and blockchain technology is ready to take the lead.
McLeod Software has joined the Blockchain in Trucking Alliance (BiTA), a new organization focused on the promotion and educational efforts to utilizing blockchain technology in the transportation ecosystem.
An industry that has a reputation of being behind the curve on technology may be at the forefront of one of the most important technological developments in decades. Yes, the trucking industry is poised to lead the blockchain way, and BiTA plans to help it get there.
Picture a 40-foot container traveling from Mainland China to a suburb of Los Angeles. It often experiences more complications between the Port of LA and final destination than it does during its international trip. Is blockchain the solution to these problems?
One of the great vulnerabilities in any nation is the food supply. The movement of food is dependent on many entities ensuring compliance with regulations, proper temperature control, proper handling and cleaning and more, including security. That is where blockchain technology holds great promise.
There is a new option that companies are flocking to quickly raise capital: an ICO – initial coin offering. But there are inherent risks in doing so, and they may be too great to overcome for transportation firms.
Are you ready for electric vehicles? A new report from Bloomberg New Energy Finance (BNEF) says that electric vehicle (EV) sales will account for 33% of all light-duty vehicles on the road by 2040.
Blockchain is a technology that is rapidly growing in many industries, and its potential to disrupt traditional work flows in transportation is large. This graphic illustrates some of the potential areas where blockchain can be used to improve operations.
Unlike some technologies, blockchain technology is not likely to displace many workers in the trucking industry. It does promise, however, to streamline financial operations and compliance reporting to make those operations more seamless, potentially saving fleets tens of thousands of dollars.
Once a disparate group of entities, the modern supply chain is becoming more akin to a well-oiled machine thanks to technological advances. As it becomes more digitized, the business case for blockchain technology becomes more powerful.
“The potential here is phenomenal. The match between what blockchain offers and the industry pain points is incredible,” says Bridget McDermott, vice president of Blockchain Business Development for IBM. So what exactly is blockchain?
Blockchain is a relatively new term used to describe a series of distributed databases that act as a tamper-proof, verifiable ledger. As with any new technology, blockchain has its own terminology. Here is a listing of some of the most important terms and their meanings.
