TrueNorth announced that it has joined the Blockchain in Transport Alliance (BiTA). BiTA was formed by experienced technology and transportation executives to create a forum for the development of blockchain standards and education for the transportation industry.
In May 2017, Deloitte predicted that 10 percent of the global gross domestic product will be built on blockchain technology. By providing more clarity and standards around blockchain through education and promotion of the technology, BiTA intends to be the leading blockchain voice for the transportation industry. BiTA has plans to create and publish its first blockchain market standards this year, creating a blockchain implementation roadmap for the entire transportation and logistics industry.
Through this alliance, TrueNorth will partner alongside many global transportation and logistics leaders to promote, educate, and encourage the development and adaptation of blockchain applications within the industry. “We are thrilled with the opportunity to become a BiTA member. Blockchain is a next generation technology that has the potential to significantly impact all facets of the transportation industry. BiTA is taking the offense position in shaping the standards of how it may impact the industry,” said TrueNorth Transportation Executive Vice President Trent Tillman. “We’re excited with the opportunity to support and contribute to their mission.”
TrueNorth is a risk management and insurance brokerage firm with a nationally recognized Transportation Division. Headquartered in Cedar Rapids, IA, and doing business throughout the US, our firm specializes in assisting transportation companies and their people with protecting and maximizing assets, resources, and opportunities. Learn more about us by visiting www.truenorthcompanies.com.
Founded in August 2017, BiTA’s goal is for members to participate, discuss, create and implement industry standard uses of blockchain applications. BiTA aspires to provide clarity and direction for the development of blockchain technology in the trucking industry in a manner that will create efficiency, transparency and foster trust. BiTA standards are intended to create a common framework to help organizations develop and adopt blockchain technology. Learn more at www.bita.studio.
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