The worldwide transport company Penske Logistics is the latest company to join the Blockchain in Transport Alliance (BiTA).

BiTA intends to motivate the development of Blockchain within the transport industry by developing and maintaining applications for logistics and supply chain processes, transaction ledgers and asset tracking. Its latest affiliate, Penske became a member in January.

Andy Moses, Senior Vice President of Global Products, explained that Penske Logistics planned to investigate Blockchain data and technology, and wanted to specifically create applications for its beverage and food transports as well as manufacturing. He added that the company had joined BiTA to gain an improved understanding of the advantages that such technology could have on customers. The company want to be part of the creation of the framework for developing and implementing Blockchain technology.

Other companies in BiTA include United Parcel Service and UPS, who stated that they would be joining the organisation in order to create and maintain Blockchain platforms, and looking at issues such as how to utilise tech in order to enable easy payments.

The consortium was originally entitled the Blockchain in Trucking Alliance, focusing on the trucking industry. However, with the addition of rail companies and numerous other transportation groups, the name was subsequently changed.