Hundreds of companies across the logistics landscape are coming together to discuss and develop blockchain standards for the industry. To date, we held our inaugural event in November 2017 to start discussions with our early membership. In December 2017, our first board of directors for our standards organization (BiTAS) was established. In May 2018, the membership will reconvene at the BiTA Spring Symposium to discuss standards development and implementation.
In addition to our formal events, members continue the conversation year round through our members-only discussion board.
Whether it is a smart confirmation sheet or a forward contract, smart contracts that self-execute are the future of freight tendering.
Collecting payment and settling freight bills is a painful process that is archaic and fraught with fraud and integrity issues.
Having a trustless and accurate record of asset history is imperative to ensuring compliance with safety-standards and helps asset buyers know the complete history of an asset from the time it leaves the factory floor.
With ELDs being implemented, drop and hook freight will become more desirable. Trailer pools are also nearly impossible to manage under current processes. Solving this issue with revolutionize the way carriers, shippers, and 3PLs manage their asset pools.
New regulations and safety standards require everyone in the supply-chain to know what is happening with freight at all times, whom touched it, where it has been, and how it was maintained.
We are a membership organization that encourages members to develop their own applications and share those concepts with other members. If you have an idea of an issue that blockchain technology can help solve, please tell us. BiTA is not involved in developing commercial blockchain applications- that is up to the members. If you have a concept or idea, let us know and we will bring it up at our next meeting.