NASCENT, provider of technology solutions to the Intermodal Transportation industry, has announced its membership in the newly formed Blockchain in Transport Alliance (BiTA), an organization that aims to ‘create a forum for the development of blockchain standards and education for the freight industry’.
Founded in August of 2017, BiTA promotes the development and adoption of blockchain applications in the trucking, transportation and logistics industries, including establishing industry-wide standards. Members include truckload, LTL, and parcel carriers, as well as shippers, tech start-ups and incumbents, insurance companies, law firms, and other industry participants who have an interest in integrating blockchain technology into their organizations.
The move is a step in NASCENT’s continued commitment to its aim of being a leading technology supplier to the freight industry. As the company plans its next wave of value-driven applications aimed at terminal automation and freight management, blockchain is anticipated to play a significant role in its architecture and on-going development.
Sam Longetti, NASCENT’s Software Director, commented: “The promises of blockchain represent efficient solutions to the long-standing problems of trust and security in the digital world. The highly-secure distributed ledger of blockchain enables the embedding of transactions, events, and contracts within digital code where they cannot be altered. Also, the ‘peer-to-peer’ contractual relationship reduces administrative overhead, making the resulting systems more efficient.”
President of BiTA, Chris Burruss remarked: “Nascent brings unique experience in technology development that will be invaluable to us as we work to build blockchain standards for the supply chain. I am pleased to welcome Nascent Technology to the BiTA family,”