Penske Logistics has joined the Blockchain in Transport Alliance, a group dedicated to setting standards for blockchain technology applications developed for transportation, as a corporate member.
BiTA was formed last year and is aimed at promoting and educating the transportation industry on the use and development of blockchain applications. Penske Logistics sees potential blockchain benefits for its customers operating in the manufacturing, food, beverage sectors as well as other industries.
Penske Logistics said that the industry could benefit from further digitizing and securing supply chain and logistics processes, improving order accuracy, as well as tracking physical assets, and securing freight bill pay and audit transactions across Penske’s freight brokerage and dedicated carriage operations.
“We’ve joined BiTA to take part in better understanding the benefits of blockchain for our customers and to be a part of crafting the standard framework in the development and implementation of blockchain technology,” said Andy Moses, Penske Logistics senior vice president of global products.