Third-party logistics (3PL) provider NFI Industries has joined the Blockchain in Transport Alliance (BiTA), an industry coalition established to examine blockchain's ability to support secure data sharing in the transportation, supply chain, and logistics markets, the firm said last week.
BiTA's stated goal is to develop dialogue on, build standards for, and promote education about blockchain technology, a strategy for safely sharing information among partners through a series of distributed ledgers.
NFI joined BiTA in an effort to strengthen connectivity and collaboration with its partners, as an extension of its technological initiatives in areas like automation, robotics, and sophisticated transportation management systems (TMS), the Cherry Hill, N.J.-based firm said.
Partnering with BiTA could help NFI improve communication among customers, suppliers, carriers, financial institutions, and consumers, Anne Thomas, NFI's vice president for financial systems and business processes, said in a statement. "Aside from creating visibility and trust between shippers and customers, it could also present operational benefits like reduction in delays and human error," she said.
BiTA has been bringing together a range of more than 200 industry stakeholders, including recent additions like freight-pricing software firm SMC3 Inc., asset-tracking and Internet of things (IoT) provider Orbcomm Inc., and Canadian parcel delivery and logistics company Purolator Inc., as well as earlier members such as BNSF Railway Co., UPS Inc., FedEx Corp., SAP SE, McLeod Software Corp., and Trimble Inc.