Indian multinational IT services company HCL Technologies is the latest to join Blockchain in Transport Alliance (BiTA).
Formed in August 2017, BiTA is the transportation and logistics industry’s trade association for blockchain education and standards development. It counts over 250 freight transportation companies as its members which include the likes of FedEx, SAP, UPS, Salesforce, and Schneider, among others.
In its official release, HCL said that blockchain technology can significantly transform transport industry – it would make the process of transportation, logistics and supply chain more seamless and transparent. It can also help generate new revenue streams and value for customers by enabling a system of completing transactions, tracking shipments, and managing fleets.
HCL said that it has developed the CoTrust Blockchain Application Platform which will enable rapid development and deployment of blockchain applications. The platform offers services with key features, such as a managed platform, end-to-end security, automated on-boarding, and structured APIs.
“HCL’s partnership with BiTA, and working alongside other global industry leaders in transportation, logistics, and supply chain, will allow us to engage in the development of standards for how blockchain technology will be used in such transportation activities as track and trace, provenance, smart contract management, compliance management, and fraud detection,” said Ajay Bahl, Executive Vice President and Head of Public Services and Manufacturing Business (North America) at HCL Technologies.
