BiTA is the Blockchain in Transport Alliance, an organization which aims to "bring together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology." Together with their members, BiTA aims to create common standards for use of blockchain within the industry, helping to make the adoption of blockchain quicker and easier. Thousands of companies have applied for membership with BiTA, proving how vital their work is for the future of our industry.
Blockchain has numerous uses in the freight industry. In the DECK on their website, BiTA explains many of these uses including EDI communications, payment and settlement solutions, proof of provenance, proof of delivery, IoT vehicles, and more. Despite the incredible benefits of blockchain, it's used within logistics and freight have been slow to develop due to significant hurdles. There are 4 main hurdles to the adoption of blockchain across the industry; Scalability, data privacy, collaboration, and commercialization. BiTA discusses each of these hurdles in their DECK and is actively working to find solutions to these issues.
Routeique is thrilled to be working with BiTA, and we can't wait to attend the BiTA fall symposium in the upcoming week. We hope that our work with BiTA and other blockchain partners will help to contribute to the future of technology within our industry. We are excited to continue to create and foster relationships with other BiTA members.