Kleinschmidt is excited to announce that we’ve joined the Blockchain in Transportation Alliance (BiTA). Comprised of the industry leaders in transportation and logistics technology and finance, the BiTA’s goal is to establish industry standards and practices and promote industry advancements using new blockchain technologies.
Though blockchain technology is still in its infancy, you may be familiar with the BitCoin and other popular crytocurrencies, which use blockchain technology. Blockchain functions as a cryptologically secured open ledger of related data “blocks” that are resistant to modification and provide a permanent record of transactions between two parties. This is especially relevant in the transportation and logistics industry, because blockchain enables parties to unite and record shipments, orders, status updates and tracking information through the entire supply chain in a permanent ledger that provides visibility to all parties in the process.
It’s an extremely interesting technology, and we’re excited to work with the brightest and best partners in our industry to create standards and drive innovation that benefits the entirety of the supply chain.
We’ve included the official BiTA press release below:
DEERFIELD, IL
Kleinschmidt Inc., a pioneer in Electronic Data Interchange and leader in innovative electronic commerce solutions for the transportation industry, announced today that it has joined the Blockchain in Trucking Alliance (BITA) in an effort to work alongside the transportation industry to develop new standards and practices while advancing the industry through new technologies.
The Blockchain in Transportation Alliance’s goal is to establish direction for the development of blockchain in the transportation and trucking industry. BiTA works to provide the education, clarity and resources necessary to engage new partners in transportation, finance and technology in order to unlock the efficiency and benefits evident in blockchain technology.
“Kleinschmidt is the preeminent provider of EDI and electronic transactions in the market. Their participation in BiTA will be vital to support the growth and proliferation of this technology. The role that Kleinschmidt plays in the trucking industry cannot be understated. We are honored to have them join BiTA.”
The World Economic Forum (WEF) named blockchain as technology that has far-reaching social and economic benefits, but would need industry-specific standards to encourage adoption. Deloitte is also high on the technology, projecting that 10% of global GDP will be stored on the blockchain by 2025. Kleinschmidt is joining TransRisk, McLeod Software, PS Logistics, 10 – 4 Systems and Triumph Business Capital among other companies as members of BiTA. A pioneer in communications technology throughout the 20th century and a leader in electronic data exchange within the transportation and freight logistics industries, Kleinschmidt brings over 75 years of experience on the forefront of transactional data and electronic commerce to the Blockchain in Trucking Alliance.
“Blockchain is an exciting technology with the potential to make a huge positive impact on the transportation industry, so naturally we’re proud to join forces with our peers in the Blockchain in Trucking Alliance,” said Dan Heinen, Chairman of Kleinschmidt Inc. “Blockchain transactions are a natural evolution for us, and it’s been something we’ve been exploring for quite some time now. Kleinschmidt is extremely enthusiastic about the opportunity to collaborate with the brightest and best in our industry through BiTA to bring innovative solutions and expertise to our customers, partners and the industry as a whole.”
About Blockchain in Trucking Alliance
Founded in August 2017, the Blockchain in Transportation Alliance (BiTA) is a forum for promotion, education, and encouragement to develop and adopt blockchain applications in the trucking, transportation, and logistics industry. BiTA’s goal is for members to participate, discuss, create, and adopt industry standard uses of blockchain applications and to provide clarity and direction for the development of blockchain technology in the trucking industry in a manner that will create efficiency, transparency, and foster trust. BiTA standards are intended to create a common framework to help organizations develop and adopt blockchain technology. For more information, visit www.BiTA.studio.