A new blockchain consortium has been established that aims to promote, educate, and encourage the development and adoption of blockchain applications in the transportation and logistics industry.

Called the “Blockchain in Trucking Alliance” (BiTA), the consortium seeks to provide more clarity and standards around blockchain through education and promotion of the technology.

“We formed the Blockchain in Trucking Alliance to develop common standards around blockchain applications in the trucking industry. The technology holds great promise, but to encourage its proliferation, we felt that developing industry standards were paramount.” Craig Fuller, CEO of TransRisk and Co-Founder of BiTA stated.

McLeod Software, a leader and innovator in trucking software applications, recently joined BiTA, thereby joining other members including Triumph Business Capital, TransRisk, P&S Transportation, U.S. Xpress and Convoy in this initiative.

“McLeod Software is a major leader and innovator in trucking software applications, and because their software is core to so many market participants, they will be key to standardizing blockchain applications and smart contracts. We are ecstatic they have elected to join us in this journey in developing the next great technology,” Fuller added.

“McLeod is very happy for the chance to join the Blockchain In Trucking Alliance, and we look forward to working with this great group of companies to advance the goals of making blockchain both practical and efficient for transportation companies,” said Ken Craig, Vice President of Special Projects for McLeod Software. “We believe that the ability to participate in Blockchains with automation and good connectivity to existing systems could become a critical element of our customers’ business.”

BiTA aims to build the first set of transportation industry-specific blockchain standards.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest