Toronto, ON — Purolator announced that it has joined Blockchain in Transport Alliance (BiTA), a consortium of leaders in the shipping and logistics industry that is creating standards in blockchain use. Purolator’s role in the alliance is to help lead in the development of a new framework of standards from which the transportation industry can build innovative solutions.
“Blockchain” is a term used to describe a shared digital ledger — essentially blocks in a chain — that relies on the consensus of all individuals in a given network to operate and, more importantly, modify. As such, falsifying data in the blockchain is next to impossible.
“The shipping and logistics industry will continue to change at an incredibly fast pace, and as a leader in the Canadian market, Purolator wants to help shape its future,” said Ricardo Costa, Vice President and Chief Information Officer, Purolator. “The applications for blockchain are endless and will provide the shipping and logistics industry with never-seen-before benefits. This is because the technology enables complete end-to-end visibility into the entire life cycle of a shipment transaction and all its connected parts. For example, vendor management, loss prevention and security, and billing and payments are just some of the transportation areas that blockchain can be applied to.”
Purolator is looking deeper into ways of using blockchain to support the company’s focus on providing an exceptional customer experience. These include improved shipment visibility, agility and tracking, and delivery speed, as well as opportunities to globalize products and services.
“Recognized for its shipping systems and integrated solutions, Purolator will be a critical player in developing common blockchain standards for the freight industry,” said Chris Burruss, President of BiTA. “Purolator will also play an important role in educating the industry about blockchain technologies and applications.”
BiTA was formed by experienced tech and transportation executives to create a forum for the development of blockchain standards and education for the freight industry. All companies within BiTA share a unified mission of developing a standards framework, educating the market on blockchain applications and encouraging the use of technology applications through exemplary implementation.