New York-based shippers association Gemini Shippers Group announced it has joined the Blockchain in Transport Alliance (BiTA), an organization seeking to developing best practices and standards for blockchain in the transportation industry.
With this move, Gemini aims to bring ocean contracting expertise to BiTA’s members, which include Descartes, Daimler, FedEx, SAP and Uber Freight, among others, in order to help develop blockchain-based solutions for the industry.
Blockchain technology enables the identification and tracking of transactions digitally, as well as the sharing of this information across a distributed network of computers. As such, it enables more effective tracking of goods and freight across the supply chain, enhancing transparency of operations.
Blockchain technology can transform the supply chain by introducing greater transparency, innovation and efficiency. We are fortunate to have member companies like Gemini Shippers Group, which have experience with blockchain applications. Gemini will help the Alliance develop additional blockchain standards for the transportation industry,
…said Patrick Duffy, BiTA’s president.
By helping to develop a common framework and standards with other Alliance members, we will promote broad adoption of this disruptive digital technology for transportation and logistics and accelerate the use of it in our operations,
…noted Ken O’Brien, Chief Operating Officer at Gemini Shippers Group.
Founded in August 2017, BiTA has quickly grown into the largest commercial blockchain alliance in the world, with nearly 500 members that collectively generate over $1 trillion in revenue annually.
Alliance members share a common mission to develop a standards framework, educate the market on blockchain applications and encourage the use of those applications.
