Shippers association Gemini Shippers Group has become the latest organization to enter the Blockchain in Transport Alliance (BiTA), joining the movement to develop best practices.
The alliance, which already includes major stakeholders such as Descartes, Daimler, FedEx, SAP and Uber Freight, aims to develop standards for blockchain in the transportation industry.
According to Gemini, its association of shippers will offer BiTA “deep expertise” in the field of ocean contracting, as well as a track-and-trace integration and rate audit for carriers.
Dean Croke, BiTA, has discussed what blockchain could mean for logistics in a recent Port Technology technical paper
Blockchain is a technology that enables the identification, tracking and sharing of transaction across a distributed network of users and is said to have a key role to play within the supply chain and logistics sectors.
In the transportation industry, blockchain is expected to facilitate higher levels of transparency and the more effective tracking of goods and freight across the supply chain – a subject that will be explored further in Port Technology’s upcoming edition of its monthly e-Journal.
In addition to this, it could also support the generation of new revenue streams for customers and streamline a range of different processes, such as completing transactions, tracking shipments and managing fleets.
— BiTA – Blockchain in Transport Alliance (@BiTAmembers) July 3, 2019
Patrick Duffy, BiTA president, commented: “Blockchain technology can transform the supply chain by introducing greater transparency, innovation and efficiency.
“We are fortunate to have member companies like Gemini Shippers Group, which have experience with blockchain applications. Gemini will help the Alliance develop additional blockchain standards for the transportation industry.”
Ken O’Brien, Chief Operating Officer at Gemini Shippers Group, added: “Gemini’s partnership with BiTA, and the opportunity to work alongside other global industry leaders in transportation, logistics and supply chain, will allow us to engage in the development of blockchain standards used in such transportation activities as track-and-trace, smart contract management and freight rate reconciliation and payment.
“By helping to develop a common framework and standards with other Alliance members, we will promote broad adoption of this disruptive digital technology for transportation and logistics and accelerate the use of it in our operations – bringing value to our members and carrier partners.”