ORBCOMM (Nasdaq: ORBC) joined the Blockchain in Transport Alliance (BiTA), a forum for the development of blockchain standards, education and solutions for the freight industry founded in August 2017. Due to the fact that ORBCOMM Inc. is a global provider of industrial Internet of Things (IoT) solutions and with their long-time expertise and leadership in developing IoT solutions for the transportation and logistics industry, ORBCOMM is the first telematics provider to be selected as a member of BiTA.
Because ORBCOMM has a complete, integrated transportation solution for almost all asset types visible in a single platform, the company is well positioned to play an integral role in driving the transition to shared distributed ledger technology to support logistics management, asset tracking, transaction processing, and more in the freight industry.
ORBCOMM will collaborate with BiTA’s members, including transportation service providers, shippers, OEMs, suppliers, vendors and insurance companies, to determine how to incorporate blockchain technology into the transportation supply chain, improving end-to-end visibility, streamlining manual paper operations, ensuring data integrity and security, enhancing communications, and optimizing efficiency.
Chris Burruss, President of BiTA said they believe ORBCOMM will be a key contributor and resource for BiTA given its history as an innovator and leader in delivering transformative technology to the transportation and logistics industry. They look forward to working with ORBCOMM to develop and embrace standards addressing interoperability and compatibility between solutions used across the supply chain.
Marc Eisenberg, ORBCOMM’s Chief Executive Officer said they are pleased to be the first telematics provider to join BiTA, which they see as a great opportunity to drive the development of blockchain solutions that create further efficiency, transparency and security across the transportation supply chain. They are committed to providing their customers with the industry’s most complete, integrated transportation solution offering, and leveraging shared ledger technology is an important next step in making the freight business easier, more seamless and secure across multiple platforms and touchpoints.