FreightRover, the freight exchange and streamlined payment platform, announced today that it has joined forces with other industry leaders in the Blockchain in Transport Alliance (BiTA). BiTA initially formed in 2017 to build a forum of industry executives and companies dedicated to the development of blockchain standards and education in the freight industry.
"As innovative companies continue to develop technologies to improve supply chain capabilities, it is imperative that the industry builds ways to streamline fragmented data," says Dave Halsema, Executive Vice President of FreightRover. "We are extremely excited to be able to work with industry leaders to shape the future of transportation blockchain technology to serve our mutual customers and partners."
BiTA is the first of its kind, as blockchain is an emerging technology set to transform how the transportation industry utilizes and organizes data.
Members of BiTA come from every facet of the industry: tech vendors, OEMs, tier-1 suppliers, consultants, banks, carriers, shippers, and brokers.
Blockchain will organize and streamline data that is currently fragmented throughout the transportation industry. For example, ELDs can send a near endless stream of data to the blockchain in real-time. Pairing this information with traffic data, weather data, etc. allows for up-to-the-minute rerouting. Additionally, capacity availability can change throughout the day, but the blockchain is able to provide the necessary transparency to know when and where capacity opens up, allowing participants to take advantage of shifts in demand.
FreightRover recognizes blockchain's dynamic usability for transportation, and FreightRover's real-time updates on load information and quick payment processing makes them a key partner within BiTA.
FreightRover provides a much-needed connection point for all players in the transportation industry, as freight is moved around the world. From its automated freight board, to its robust marketplace of integrations, users can streamline their freight flow. And when the load is delivered, FreightRover's Rover180 ensures carriers are paid for the load in as little as 24 hours, while shippers/3PLs are given 30+ days to pay.