Kingsgate Transportation + Logistics, a non-asset based third-party logistics provider, has become a member of the Blockchain in Trucking Alliance, a group dedicated to setting standards for blockchain applications developed for the transportation industry.
The alliance was formed by tech and transportation executives to create a forum for promotion and education, and to encourage development and adaptation of blockchain applications within the transportation and logistics industries.
Blockchain is a distributed ledger technology designed for transactional applications such as the movement of freight. The technology is already in use in industries such as stock trading, banking, insurance, and real-estate – all industries with complex, high-volume transactions.
“Kingsgate prides itself on our dedication to developing and utilizing cutting-edge technology to improve industry standards for our customers, carriers, and employees,” said Jeff Beckham, owning partner of Kingsgate. “This advancement in technology will dramatically change the way we interact with our carriers and our customers. We are especially excited about the improvements in service this technology can bring to our clients in the food manufacturing and retail sectors where product traceability and visibility continues to grow in importance.”
BiTA members believe that blockchain will be one of the most significant developments in the transportation industry and the group intends to be the leading blockchain voice for the industry. As a member, Kingsgate Transportation + Logistics will help BiTA create a forum and develop a further dialogue with other innovators in the industry. Through engagement with influential leaders in transportation, finance, and technology, BiTA plans to build the first set of transportation industry-specific blockchain standards.