Decisiv, Inc., announced today it has joined the Blockchain in Trucking Alliance (BiTA), a consortium of the foremost leaders in the trucking industry forging a path toward industry standards in blockchain use.
“Blockchain standards are on the leading edge of a common framework of applications that will revolutionize businesses in the future,” says Dick Hyatt, President and CEO of Decisiv. “As a member of BiTA, we will use our industry changing Service Relationship Management technology and our vast industry knowledge and experience to help usher in this change. We are proud to join BiTA as one of its founding members and look forward to working with the alliance to benefit the entire trucking industry.”
Experienced technology and transportation executives formed BiTA as a forum for the development of blockchain standards. The more than 200 companies that have applied for membership in the alliance come from every facet of the industry, including technology vendors, OEMs, Tier 1 suppliers, consultants, banks, carriers, shippers, and brokers. BiTA plans to develop and publish its first standards in 2018, Decisiv says.
BiTA members share a unified mission of developing a standards framework, educating the market, and encouraging the use of blockchain applications to simplify the management of complex, high-volume transactions. Across the industry, blockchain standards will enable greater transparency, promote the verification of secure data, and reduce costs.
Blockchain technology can enable more effective Vehicle Maintenance by providing access to extensive repair history data. Additionally, Decisiv says Performance History monitoring through a blockchain framework can allow parties to see authoritative evidence of past performance in relevant metrics. Other areas being explored by BiTA members for blockchain applications include Compliance, Quality Assurance, Capacity Monitoring, Payments and Pricing, Fraud Detection, and Theft Prevention.
Satish Joshi, Chief Technology Officer, will spearhead Decisiv’s involvement with BiTA.
“Having an accurate and accessible asset history record is imperative for ensuring uptime and for effective service management and compliance with safety standards,” he says. “Together with our partners we are already transforming the trucking industry by preparing it for new business models built on frictionless service management and data analytics. Through our involvement in BiTA we are joining other leading companies in the trucking industry that are dedicated to providing the efficiencies offered by blockchain technology.”
Decisiv is the second company this week to join the BiTA.