Penske LogisTIcs, a subsidiary of the US truck rental group Penske Truck Leasing, recently announced its participation in the Blockchain in Trucking Alliance (BiTA) as the latest company to join the alliance.
BiTA is an organization founded less than a year ago. Its goal is to promote the development of the blockchain in the transportation industry by creating supply chain, logistics procedures, asset tracking and transaction book solutions. UPS is also added in 2017.
Penske LogisTIcs joins BiTA to explore the use of blockchain features, digitize and secure supply chain and logistics processes, and improve delivery accuracy by tracking delivery vehicles to ensure bill of lading payment and transaction review, with particular emphasis on food and beverages Customers in the manufacturing industry will join BiTA to establish a blockchain technology industry standard.
According to the recent 2018 Third-Party LogisTIcs Study report, 30% of third-party logistics (3PL) operators and 16% of shipping companies regard blockchain as a potential application, but these operators have not yet invested in exploring the application of blockchain.
The World Economic Forum (WEF) pointed out that by reducing barriers to international supply chains, global trade will increase by 15%, driving economic growth and creating jobs. Danish shipping group Maersk and IBM have also announced the establishment of a joint venture company, focusing on the development of blockchain technology and developing a global trade digital platform.
IBM said the new company will deal with issues related to the simplification and transparency of cross-border logistics. Its trade digital platform will use blockchain technology and other cloud technologies related to AI and Internet of Things (IoT) analysis to digitally track cargo across Traces of logistics, whether manufacturing, shipping, freight, ports, airport operators, customs authorities, etc., can benefit.
As the review of paper documents is still very common in the shipping industry today, the actual application cases of the tested platforms include the need to eliminate paper documents, such as smart contracts issued on the platform through the shipping port, and the review institutions will When you see the smart contract in sync, you will also see where the review organization has not completed the review of the file, thus promoting the efficiency of information transfer.
A number of companies have joined the platform testing program, including DuPont, Dow Chemical, Tetra Pak, US Customs and Border Protection, Houston Port Authority, and Dutch Customs. Rotterdam Port Community System Portbase and more.
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