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The Blockchain in Trucking Alliance is a new group of transportation partners aimed at advancing the adoption of blockchain technology by trucking.
The organization, launched by Craig Fuller, chief executive officer and managing director of TransRisk, is dedicated to promoting and educating the industry on blockchain.
Blockchain is a technological development that delivers self-executing transactions that can liberate accounting systems and create transparency for all parties involved, according to BiTA.
BiTA will focus on three missions related to blockchain: developing common standards, educating the market on blockchain applications, and encouraging its use in the trucking industry.
With Blockchain-capable transactions, the trucking industry could gain several benefits, such as immediate payments to drivers upon delivery, self-directing fuel and maintenance payments, complete automated settlements, and infinite recording of carrier history and safety, according to BiTA.
Founding partners of the alliance include organizations such as McLeod Software, Triumph Business Capital, U.S. Xpress, Convoy, 10-4 Systems, Fleet Complete, and TransRisk, among others.
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Related: TransRisk's Craig Fuller on Creating a Trucking Futures Exchange
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HDT's Fourth Annual Fact Book is an overview of the trucking industry by the numbers. Each of the graphs, charts, tables, and infographics are designed to offer a snapshot of the current industry and serve as a reference guide Check out the full Fact Book in the digital edition.
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