Fleet Complete reportedly has joined the Blockchain in Trucking Alliance (BiTA), a consortium for the adoption, education and development of a standard framework around Blockchain in the trucking industry, as a service charter member. The consortium comprises a diverse group of partners that will work together to establish best practices and protocols around Blockchain applications. The group will also work towards educating the market and encourage Blockchain use in the trucking industry.
Fleet Complete echoes BiTA's belief that Blockchain is one of the biggest technological developments for the future of the freight transportation industry, delivering self-executing transactions to liberate accounting systems and create transparency for all parties involved. With Blockchain-capable transactions, the trucking industry will gain several benefits, such as immediate payments to drivers upon delivery, self-directing fuel and maintenance payments, complete automated settlements, and infinite recording of carrier history and safety.
"Joining BiTA was a natural decision for us," comments Tony Lourakis, CEO, Fleet Complete. "We are passionate about making complicated business operations simple and easy for our customers through innovative technologies and industry leading customer support. BiTA's goal to facilitate the adoption of Blockchain transactions in trucking coincides with our objectives. We believe our customers and partners will benefit from this collaboration, which will bring powerful fleet management innovations."
The global commercial vehicle industry is transitioning from a product-based business model to the one that relies on customer-focused services and solutions for growth. Enabled by digitization, this transition is disrupting and transforming all corners of the industry, where innovative use of technology, such as Blockchain, creates unique opportunities as well as challenges for the trucking industry stakeholders.
"We are thrilled that Fleet Complete has joined BiTA to help develop industry standards that global telematics and transportation technology companies will use for decades to come,” said Craig Fuller, Co-Founder of BiTA. “Mobile IoT adoption of Blockchain standards is a major step in ushering in the world of self-executing smart contracts in the logistics and freight industries. Fleet Complete's leadership in the telematics space will help to set the market standard for Blockchain in trucking."
Founding partners of this alliance include organizations such as McLeod Software, Triumph Business Capital, U.S. Xpress, Convoy, 10-4 Systems, and TransRisk.
Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.Edited by
Ken Briodagh
