TrueNorth, a risk management and insurance brokerage firm and Werner Enterprises, a transportation and logistics provider, announced its collaboration with the Blockchain in Transport Alliance (BiTA), an alliance formed to ensure standardization of blockchain technology in logistics and throughout the supply chain.
In May 2017, Deloitte predicted that 10 percent of the global gross domestic product will be built on blockchain technology. By providing more clarity and standards around blockchain through education and promotion of the technology, BiTA intends to be the leading blockchain voice for the transportation industry. BiTA has plans to create and publish its first blockchain market standards this year, creating a blockchain implementation roadmap for the entire transportation and logistics industry.
Through this alliance, TrueNorth will partner alongside many global transportation and logistics leaders to promote, educate, and encourage the development and adaptation of blockchain applications within the industry.
“We are thrilled with the opportunity to become a BiTA member. Blockchain is a next generation technology that has the potential to significantly impact all facets of the transportation industry. BiTA is taking the offense position in shaping the standards of how it may impact the industry,” said TrueNorth Transportation Executive Vice President Trent Tillman. “We’re excited with the opportunity to support and contribute to their mission.”
TrueNorth is a risk management and insurance brokerage firm with a nationally recognized Transportation Division. Headquartered in Cedar Rapids, IA, and doing business throughout the US, the firm specializes in assisting transportation companies and their people with protecting and maximizing assets, resources, and opportunities.
Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico, China and Australia. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. The Werner Logistics portfolio includes truck brokerage, freight management, intermodal, international and final mile services. International services are provided through Werner’s domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage.
“We’re excited to work with BiTA to drive adoption of new technologies like blockchain that will improve security and service across the transportation and logistics industry,” said Senior Vice President and Chief Information Officer Nathan Johnson.
BiTA was formed to create a forum for the development of blockchain standards and education for the freight industry, with a goal to bring together leading companies in the freight and technology industries that have a stake in the development of blockchain technology. A blockchain is a decentralized, digital, public ledger of transactions. Originally developed as the accounting method for virtual currency Bitcoin, a blockchain underlies a distributed ledger that has a wide variety of commercial applications.