Freight brokerage company Velocity Transport has joined the Blockchain in Transport Alliance (BiTA) to work towards the development of new standards for the use of blockchain technology in the transportation space.
Formed in August 2017, BiTA aims to promote the adoption, education, and development of a standard framework around blockchain in the trucking, transportation, and logistics industry. It counts over 250 freight transportation companies as its members which includes the likes of FedEx, SAP, UPS, Salesforce, and Schneider, among others.
“We believe blockchain provides great value in solving industry pain points, but there needs to be clarity and standards around its use and BiTA intends to provide that through education and promotion of the technology,” said Chris Burruss, president of BiTA. “Velocity adds a crucial voice to BiTA, and their perspective will help BiTA and its membership build the world’s first transportation industry-specific blockchain standards.”
Velocity Transport models its core values after those held by its highly regarded parent, McLane Company, Inc., a subsidiary of Berkshire Hathaway and a leading distributor to the grocery and food service industries. It entered the marketplace to offer comprehensive freight solutions and deliver an unparalleled level of service to both shippers and carriers.
“By becoming a member of BiTA, Velocity is connecting with a group of like-minded companies that want to drive innovation and advocate for the adoption of blockchain applications in the freight industry,” said John Lower, vice president of Velocity Transport. “We are very excited about the great potential of blockchain technology and are proud to join the team that will set the standards for its use going forward.”
