LiteLink Technologies Inc. , a leading blockchain enterprise and artificial intelligence solutions provider, has joined the Blockchain in Transport Alliance (BiTA). BiTA was formed to establish a set of standards and to educate businesses within the freight/transportation/logistics/supply chain marketplace. By becoming a BiTA member, LiteLink gains the opportunity to join the unified charge in promoting and educating an entire industry about the added benefits of blockchain technology.
Blockchain technology enables transactions to be identified and tracked digitally and shared across a distributed network of computers. In the supply chain, blockchain enables participants to more effectively track goods and freight. Blockchain will allow transportation and logistics companies to operate in a more seamless and transparent manner, and can also help to create new revenue streams and value for customers by supporting a system able to complete transactions, track shipments and manage fleets.
Founded in August 2017 by technology and transportation executives, BiTA educates and encourages the use of blockchain technology applications which benefit the entire freight industry and the customers it serves. The BiTA member community is made up of hundreds of well-known companies such as UPS, FedEx and Salesforce. Each of these members believes that blockchain is pivotal to the next frontier of growth for the freight industry. Members of the Alliance work collectively to develop a set of standards which will assist in the revolution of the supply chain.
“We are honoured to be working in tandem with so many like-minded members who are looking to enhance the logistics behind the freight industry and beyond,” said Ashik Karim, CEO of LiteLink. “Our experience working in blockchain has allowed us to identify niche opportunities that we are developing in anticipation of rapid industry progression over the forthcoming months.”
According to Chris Burruss, President of BiTA, “Blockchain has the potential to transform the supply chain by improving transparency and innovation. “Therefore, on behalf of the BiTA membership, I want to welcome LiteLink Technologies to the Alliance. Their expertise in developing blockchain applications will help BiTA develop and deploy blockchain standards.”