UPS joins blockchain alliance to spur standards development for shipping industry

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UPS joins blockchain alliance to spur standards development for shipping industry.
UPS said Tuesday that it's joining the Blockchain in Trucking Alliance (BiTA), a business consortium that aims to spur development of blockchain technology standards for the logistics and freight industries.

Blockchain, best known as the technology behind bitcoin, is a distributed, encrypted database architecture that is considered immune from tampering. In a nutshell, a blockchain logs data on a network and stores them in blocks that are linked and secured by cryptography.

UPS posits that blockchain technology will play a key role in the smart logistics network of the future, keeping record of not only digital currencies but also physical assets like transportation containers.



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UPS joins
blockchain alliance to spur standards development for shipping industry
UPS joins blockchain alliance to spur standards development for shipping industry