LiteLink Technologies, a blockchain enterprise solutions provider, has become the latest company to join the Blockchain in Transport Alliance (BiTA).
BiTA, which includes industry giants UPS, FedEx and Salesforce among its ranks, was formed to establish standards and educate businesses in the logistics and supply chain sector, including freight-forwarders and transportation companies.
According to a statement, entering BiTA will enable LiteLink to join a unified charge which is promoting and educating the whole industry about blockchain technology and its applications.
BiTA believes that the implementation of blockchain will allow transportation and logistics specialists to operate in a more seamless and transparent manner.
Dean Croke, BiTA, has discussed what blockchain could mean for logistics in a recent Port Technology technical paper
In addition to this, the use of blockchain can also help to create new revenue streams and value for customers by providing a system for completing transactions, tracking shipments and managing fleets.
LiteLink is currently developing 1Shift Logistics, an end-to-end management platform that addresses the fragmented logistics marketplace.
This service, according to LiteLink, finds a marriage between blockchain and artificial intelligence that “removes disputes, adds confidence, and real-time analytics to bring cost efficiencies to the table”.
Find out what blockchain is and why the industry is so excited about by reading a Port Technology technical paper
Ashik Karim, CEO of LiteLink, commented: “We are honoured to be working in tandem with so many like-minded members who are looking to enhance the logistics behind the freight industry and beyond.
“Our experience working in blockchain has allowed us to identify niche opportunities that we are developing in anticipation of rapid industry progression over the forthcoming months.”
Chris Burruss, President of BiTA, said: “Blockchain has the potential to transform the supply chain by improving transparency and innovation.
“Therefore, on behalf of the BiTA membership, I want to welcome LiteLink Technologies Inc. to the Alliance. Its expertise in blockchain applications will help BiTA develop and deploy blockchain standards.”