Hublock, a provider of software solutions for data-sharing, has become the latest member of the Blockchain in Transport Alliance (BiTA).
According to a statement from BiTA, which determines best practices and standards for the use of blockchain in the transportation industry, blockchain helps companies to digitally identify and track transactions, contracts and shipments, making operations more transparent and reliable.
Blockchain is also capable of creating new revenue streams, by improving such areas as fleet management and customer experience.
Hublock will apply its deep engineering knowledge and logistics experience to BiTA, in order to create viable blockchain solutions for the whole industry.
Dean Croke, BiTA, has discussed what blockchain could mean for logistics in a recent Port Technology technical paper
Finding new uses for blockchain in the logistics sector aligns with Hublock’s focus on data-sharing as a means of solving industry issues.
Hublock uses data to create optimized solutions and automated workflows for logistics companies, and can implement technologies such as blockchain alongside machine learning to enhance business performance.
As part of BiTA, Hublock will look for ways to leverage blockchain and data-sharing in areas such as supply chain management.
— Port Technology (PTI) (@PortTechnology) November 6, 2018
Matthias Grimling, CEO and Founder of Hublock, commented: “Together with our partners from the logistics sector and our clients, Hublock seeks to create a system that would enable the use of the latest IT solutions, such as blockchain, Internet of Things (IoT) and artificial intelligence (AI).
“With those tools, Hublock can help meet the needs arising in the dynamically developing B2B and B2C markets.”
Oliver Haines, Vice President of BiTA-Europe, added: “On behalf of the members of BiTA, I welcome Hublock to the Alliance. The company’s expertise across the information technology platform will help speed the development of blockchain standards.
“In the supply chain, services like those Hublock provides can help companies create new revenue streams and value by enabling a system to complete transactions, track shipments and manage fleets.”