Making new strides in the Transportation domain, technology biggies HCL Technologies have joined the Blockchain in Transportation Alliance (BiTA). BiTA is an organisation that works to empower and uphold the Blockchain ecosystem. They have been dedicated towards harnessing the best Blockchain practices and the best standards in the transportation industry. After its association with BiTA, HCL is to be a league of enterprises that already boasts of members like FedEx, SAP and Uber Freight, etc. The exception as of now is that HCL would greatly benefit the alliance and owing to its technological expertise and help come up with Blockchain-centric solutions.
Blockchain technology has revolutionised several ambits of business and technology by enabling its identification feature of digitally tracking transactions and sharing this information across a distributed network of computers. It is this decentralised feature that’s catching the attention. It’s application for the transportation industry is something that the alliance is pinning their hopes on to. The reason for this is that Blockchain allows the ability to track good more effectively and freight across the supply chain.
“HCL’s partnership with BiTA will allow us to engage in the development of standards for how this 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.
“Blockchain technology will transform the supply chain by introducing greater transparency, innovation, and efficiency,” added Chris Burruss, President of BiTA.
In order to promote this adoption of the Blockchain, HCL has developed the CoTrust Blockchain Application Platform that makes use of Blockchain engines for supporting their base capabilities and enable rapid growth and establishment of Blockchain apps.
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