US-based transportation services company, Penske Logistics, has gained entry into the Blockchain in Transport Alliance (BiTA) as a corporate member.
“We've joined BiTA to take part in better understanding the benefits of blockchain for our customers and to be a part of crafting the standard framework in the development and implementation of blockchain technology,” said Penske Logistics Senior Vice President of Global Products, Andy Moses.
BiTA Board Member and TransRisk CEO, Craig Fuller, launched BiTA last year to advocate the implementation of blockchain applications in the commercial transport industry. Through engagement with individuals from leaders in transportation, finance and technology, BiTA is aiming to build the first set of transportation industry-specific blockchain standards.
Penske Logistics said in a statement that it sees potential blockchain benefits for its customers operating in the manufacturing, food, beverage sectors as well as other industries. “Benefits may be achieved by further digitising and securing supply chain and logistics processes, improving order accuracy, as well as tracking physical assets like vehicles, trailers, trucks, or containers and securing freight bill pay and audit transactions across Penske’s extensive freight brokerage and dedicated carriage operations.”