PORTLAND, Ore. — DAT Solutions has joined a new trucking industry group to promote blockchain technology and standards in the transportation industry. DAT operates North America’s largest digital freight marketplace.
The industry group, called the Blockchain in Trucking Alliance (BiTA), plans to foster the development of uniform blockchain standards, through increased collaboration among transportation industry leaders.
Blockchain technology creates a shared ledger that digitally documents the transaction history among all parties involved in that blockchain, with the information stored as a continuously evolving database. Blockchain technology is both decentralized and secure, promoting trust among all parties involved in the virtual interactions.
As it relates to the transportation industry, blockchain is envisioned to support real-time, transparent information sharing among shippers, carriers, freight brokers, vendors, and other stakeholders. For example, the blockchain participants could update tracking information, expedite payments and contracts to create a more connected and more efficient supply chain.
“For almost 40 years, DAT has been committed to removing inefficiencies from freight transportation and logistics, and we bring this tradition of innovation and customer enablement to the Blockchain in Trucking Alliance,” ” said Fergus Caldicott, VP Technology at DAT. “Our goal is to help shape these emerging technologies, so that our customers’ online and real-world transactions can be integrated into a seamless, digital flow of information.”
You can learn more about BiTA, their standards, and how to get involved here.