UPS joins BiTA for blockchain logistics

US integrator UPS has joined the Blockchain in Trucking Alliance (BiTA) for the development of blockchain technology standards and education in airfreight.

Blockchain is a digital database that encrypts information in secure, linked ‘blocks’. According to Linda Weakland, UPS director of enterprise architecture and innovation, it “has multiple applications in the logistics industry, especially related to supply chains, insurance, payments, audits and customs brokerage.

“The technology has the potential to increase transparency and efficiency among shippers, carriers, brokers, consumers, vendors and other supply chain stakeholders,” she added.

Describing blockchain as “a truly disruptive technology that could change many facets of global commerce”, UPS said it is particularly interested in applications for its Customs brokerage business, where it could improve accuracy, replace paper-based and manual processes, and offer a high level of security and efficiency for shippers using this service.