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HCL Technologies has joined Blockchain in Transportation Alliance (BiTA), a consortium that works on blockchain-based solutions for the transportation industry, to develop blockchain-based solutions for the industry. BiTA’s members include Descartes, Daimler, FedEx, SAP and Uber Freight.
Blockchain allows tracking of goods and freight across the supply chain effectively. It will also allow transportation and logistics companies to operate in a more seamless and transparent manner. It will help to create new revenue streams and value for customers by enabling a system of completing transactions, tracking shipments, and managing fleets.
“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.
“By helping to develop a common framework and standards by working with industry participants, we will promote broad adoption of this disruptive digital technology for transportation and logistics,” he added.
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