R2 Logistics, Inc., a customer-focused third-party logistics (3PL) service provider, is the latest member of the Blockchain in Transport Alliance (BiTA).
New and improved technology continues to rapidly bring changes to the transportation and logistics marketplaces. In May 2017, Deloitte predicted that 10 percent of global GDP would be built on top of blockchain applications. For logistics and transportation, blockchain technology may have an even bigger impact, promising to revolutionize this $8 trillion global industry.
Blockchain is a distributed ledger technology that provides consensus, provenance, finality and immutable business transactions and digital assets. These characteristics enable participants in a blockchain ecosystem to benefit from increased trust, greater transparency and reduced friction.
Therefore, blockchain technology promises to transform the supply chain; it will help connect participants - and information – across the transportation transaction. Companies that were previously only competitors will have the opportunity to use this technology to communicate and share information without assuming security risks. BiTA, a neutral organization, provides the platform where all these discussions and inter-member cooperation can occur.
R2 Logistics is exploring the innovative uses of blockchain technology within the supply chain. “At R2 we are constantly looking for ways to improve efficiency, add visibility and find ways to deliver value to our customers. We see a tremendous amount of potential in this technology to add transparency and eliminate waste from the supply chain. Our industry needs to develop standards to allow us to maximize the potential of this technology,” said Frank Dreischarf, R2 Logistics’ Vice President of Supply Chain Solutions.
“R2 Logistics is a cutting-edge leader in logistics solutions that sees the true value in blockchain’s capabilities. We are proud to have them as a member of BITA,” said Chris Burruss, BiTA President. “Not only is R2 Logistics a leader in the industry, it has made the commitment to help the industry move blockchain forward. I commend R2 Logistics for recognizing the value that BiTA brings to it and the industry.”
About R2 Logistics, Inc.
R2 Logistics, Inc. is a third-party logistics company headquartered in Jacksonville, Florida. The company works with thousands of transportation providers nationwide and was named to Inbound Logistics’ Top 100 3PL Providers list the past four years. R2 Logistics delivers industry-leading services through multiple operating branches located across the United States. These branches focus on full truckload transportation as well as services including less-than-truckload (LTL), supply chain management, expedited freight, intermodal, certified hazardous material and specialized hauling. For more information about R2 Logistics, visit www.r2logistics.com.
Founded in August 2017, BiTA has quickly grown into the largest commercial blockchain alliance in the world, with more than 450 members that collectively generate over $1 trillion in revenue annually. BiTA members are primarily from the freight, transportation, logistics and affiliated industries. Alliance members share a common mission to develop a standards framework, educate the market on blockchain applications and encourage the use of those applications. BiTA has offices in Chattanooga, Tennessee, Singapore and London. For more information, please visit the BiTA website at www.bita.studio/.