DAC joins Blockchain in Transport Alliance (BiTA)
We are happy to announce that DAC has officially joined the Blockchain in Transport Alliance, the largest commercial blockchain partnership in the world.
Founded in August 2017, BiTA, is a member-driven organization where participants share a common mission of driving the adoption of emerging technology forward. The alliance has nearly 500 members in over 25 countries that collectively generate over $1 trillion in revenue annually. Members are primarily from the freight, transportation, logistics, and affiliated industries.
Blockchain technologies may improve the transportation industry in a variety of ways – from increased visibility of the shipment between the point of origin and destination to contract breach risk management.
Through participation in think tanks, working groups, and technology committees, we are able to take part in decision-making processes on the directions and strategies for the development of blockchain technologies for the TLS industry in the coming years. – says Mateusz Bonecki, PhD, Chief Innovation Officer at DAC.
Being a member of a broad and dynamically growing consortium makes it easier for DAC to create products and services that solve the real-life problems of the transport industry and co-decide on the standards that may affect this industry for the coming years.
BiTA is developing industry standards; educating members and others on blockchain applications/solutions and distributed ledger technology (DLT); and encouraging the use and adoption of new solutions. BiTA has offices in Chattanooga, TN, USA (Global/USA/Canada); Sydney, Australia (Asia-Pacific), and London, United Kingdom (Europe).
There is a lot of room for improvement at almost every stage of freight movement. Many systems and procedures lack efficiency, however, the majority of the stakeholders never recognized the necessity to improve the decades-old, cumbersome process.
Industry digitalization brought opportunities for better asset utilization and significant financial savings for transport companies. Nowadays, implementation of blockchain technologies in order tracking, traceability, trackability, easier regulation compliance or payments automation may bring billions in savings for companies and their clients improving the overall experience in the freight movement industry.