The Swiss forwarder Panalpina and RIM Logistics, which is based in Chicago, have joined the Blockchain in Transport Alliance (BiTA), a forum of leading tech and transportation companies for the development and implementation of blockchain standards. Blockchain creates a digital record of every transaction using cryptography.

“Our goal is to bring together leading companies in the freight and technology industries that have a vested interest in the development of blockchain technology. As an asset-light company with a very long history in the freight forwarding and logistics industry, Panalpina’s contribution will be very valuable,” says BiTA president Chris Burruss.

Panalpina chief information officer Ralf Morawietz, says: “It is likely that many blockchain clusters will emerge, for example centred around ports and customs authorities, carrier groupings, as well as third-party logistics providers and regional logistics networks.When it comes to using blockchain applications and managing and interacting with all these different clusters, we have chosen a twofold approach that will be coordinated by a new digital innovation unit.”

RIM Logistics vp technology solutions, Mike Powell, says: “Blockchain technology has the potential to fundamentally change the way global trade operates. Partnering with BiTA, RIM join other industry leaders in developing standards for the digitalisation of the supply chain.”