Chicago, IL—October 12, 2017—Coyote Logistics, a UPS company and leading global third-party logistics service provider, announced today that it has joined the Blockchain in Trucking Alliance (BiTA).
Founded in 2017 by a team of transportation and technology executives, the alliance was created to encourage the development of uniform blockchain standards in the transportation industry. BiTA’s membership continues to grow, fostering increased collaboration amongst industry leaders.
At a high level, blockchain technology creates a transparent and immutable ledger, digitally documenting the transaction history between all parties involved in the blockchain. The information is stored as a shared, continually evolving database. Blockchain technology is decentralized and secure, promoting trust between all parties involved in virtual interactions.
As it relates to the transportation industry, blockchain supports real-time, transparent information sharing between shippers, carriers, brokers, vendors, and more. From updating tracking information to expediting payments and contracts, blockchain creates a smarter and more connected supply chain.
“Coyote was built upon the conviction that if you foster a culture of smart and adaptive people, develop their collective capabilities, and put industry-leading technology into their hands, we can achieve boundless success,” said Coyote IT Solutions Analyst Stephen Bindbeutel. “BiTA embodies those same guiding principles, which is why we are thrilled to help cultivate this revolutionary technology and work with BiTA to find innovative ways to help improve our industry.”
You can learn more about BiTA, their standards, and how to get involved here.
Founded in 2006 and headquartered in Chicago, Coyote Logistics LLC, a UPS company, is a leading third-party logistics (3PL) service provider in North America. Coyote provides truckload, less-than-truckload, intermodal and transportation management services to more than 14,000 shippers of various sizes and industries. Coyote became a UPS company in August 2015.