Insolar, enterprise-grade Blockchain platform that uses distributed trust to enable seamless interactions between companies, has been accepted into the Blockchain in Transport Alliance (BiTA). BiTA is an organization which aims to drive standards and enable Blockchain adoption. Its members are in the field of transportation, logistics, supply chain, freight, technology, and Blockchain.
Other BiTA members include shipping industry giants such as Daimler, FedEx, UPS and Panalpina, in addition to other leading global tech firms that provide systems and IT for supply chains, such as Microsoft, SAP and Google.
Insolar CEO, Andrey Zhulin was delighted with the company’s acceptance into the alliance. She said:
“We are proud to be welcomed into the Blockchain in Transport Alliance, which is populated by some of the biggest names in IT, supply chain, and logistics. At Insolar, we believe we can make a valuable contribution, not only in terms of the technology that we are developing but with the vision that we have for the Blockchain arena as a whole.”
Some of the projects associated with BiTA include the supply-chain-as-a-service platform, bill of lading via Blockchain, and Blockchain-based biofuel supply chain tracking for the maritime industry, in addition to the creation of standards for shipment tracking using Blockchain.
Insolar will enter the Alliance to head a working group on data regulation in Blockchain, while also forming strong partnerships with other members, whose combined revenue exceeds USD$1 trillion annually. The alliance brings together the most influential leaders in transportation, finance, and technology with the aim of building the first set of transportation industry-specific Blockchain standards and promoting what it terms as the most transformative technology since the internet.
“I would like to take this opportunity to welcome Insolar to the Blockchain in Transport Alliance. The deep Blockchain expertise, in addition to specific supply chain use cases for distributed ledger tech that Insolar brings to the table, will advance BiTA's mission of creating solid standards and furthering Blockchain adoption throughout the transportation and logistics industries.” Said BiTA President, Chris Burruss.
BiTA is creating standards with the intention of creating a common framework that can assist industry participants with their organization’s decision to develop and adopt Blockchain-based technologies. Members of the alliance are creating a forum to develop a dialogue around Blockchain in transportation.