Ruan recently joined the Blockchain in Transport Alliance (BiTA), an organization dedicated to determining best practices and standards for blockchain in the transportation industry. BiTA is the largest commercial blockchain alliance in the world, with nearly 500 members in more than 25 countries. BiTA members are primarily from the freight, transportation, and logistics industries.
BiTA was formed by experienced technology, transportation, and supply chain executives to create a forum for the development of blockchain standards and education for the freight industry. BiTA’s goal is to bring together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology.
“On behalf of the Alliance and its members, I welcome Ruan to BiTA,” stated Arlen Stark, BiTA Chief of Staff. “In 2019, I hope that Ruan and other BiTA members help the Alliance to make a significant progress in pursuing blockchain standards for the transportation marketplace.”
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 and to operate in a more seamless and transparent manner. It can also help to create new revenue streams and value for customers by enabling a system to complete transactions, track shipments, and manage fleets.
“Ruan joined BiTA because we are excited to be part of the conversation about the development of blockchain standards in transportation,” said Ruan’s Director of IT Nehru Cheddie. “The possibilities blockchain holds for transparency and visibility, efficiency gains, and reducing auditing needs are truly compelling within such a complex industry.”
Ruan’s six-person internal Blockchain Forum meets bi-weekly to educate the membership on blockchain technology. The team is working to deploy a prototype blockchain in 2019 to prove out the technology.
“It is our goal to educate our team on the capabilities of blockchain technology and provide our customers with the most efficient, transparent service possible,” said Cheddie.