PS Logistics Joins with Blockchain in Trucking Alliance
PS Logistics, LLC, a leading national transportation and logistics company, has joined the Blockchain in Trucking Alliance (BiTA) as a charter member.
The goal: to help advance the transportation industry through smart technologies and standardized performance standards.
What is Blockchain technology and why is it so important?
It is, as recently described by Forbes, “the distributed ledger technology behind Bitcoin.”
So what does Bitcoin have to do with tracking freight? Here again we’ll defer to Forbes. “While it’s most often talked about as a currency, Bitcoin is really more accurately described as a database or ledger that tracks transactions, hosted across many nodes and cryptographically guarded from fraud. ‘Blockchain’ is the generic term for the anti-fraud structure at the heart of Bitcoin and similar projects.
So, figuring how to use blockchain in freight and shipping might be more efficient and more secure because there are many parties involved and a lot of risk in the process.
“We formed the Blockchain in Trucking Alliance to develop common standards around blockchain applications in the trucking industry, from speeding up transactions to securing data transfers. The technology holds great promise, but to encourage its proliferation, we believe that developing industry standards were paramount,” Craig Fuller, CEO of TransRisk and Co-Founder of BiTA stated. “PS Logistics brings a depth of industry experience and full-service logistics knowledge to help our industry innovate with integrity through this new technology.”
PS Logistics joins TransRisk, Triumph Business Capital, and McLeod Software among other companies as charter members of BiTA.
Category: Featured, General Update
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
