At Apex, we consider ourselves forward thinkers when it comes to technology. We have a cutting-edge IT department, a Mobile Factoring App, a user-friendly Account Management Portal (AMP) for our clients, and a premium load board dubbed NextLOAD. So, you can imagine how proud we are to announce our membership in the burgeoning Blockchain in Trucking Alliance (BiTA). Apex’s BiTA membership will serve as an extension of its already top-notch technology systems.
But before we go any further, here’s a little bit about BiTA:
BiTA, founded in August 2017, is a forum for promotion, education, and encouragement to develop and adopt blockchain applications in the trucking, transportation and logistics industry. BiTA believes blockchain is one of the most significant developments for the industry since the creation of the internet. By providing more clarity and standards around blockchain through education and promotion of the technology, BiTA intends to be the leading blockchain voice for the industry.
A Very Important Step Forward
“I believe blockchain technology is a very important step forward for the transportation industry, and the internet as a whole,” says Jerry Wallace, Apex’s Chief Technology Officer. “Apex is proud to be a part of BiTA and the effort to set the direction of blockchain’s integration into our industry. There are very few times that a technology like this is introduced and are we excited about its possibilities.”
And now, a quick overview of blockchain technology:
“A blockchain is a digitized, public ledger of all cryptocurrency transactions,” says Investopedia. “Constantly growing as ‘completed’ blocks (the most recent transactions) recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.”
In laymen’s terms, a blockchain “is a shared workflow in the cloud that all businesses can interface with in real-time without the need for a single software system. It’s about the information, not the application each company uses,” says Wallace.
Bright Minds Create Transparency, Efficiency and Trust
So, this creates transparency, efficiency, and trust. Apex’s membership in BiTA puts it in the company of such transportation leaders as C.H. Robinson, UPS, TMW Systems, U.S. Xpress, and P&S Transportation, among many others.
BiTA’s aim is true, as it plans to engage the brightest minds in the transportation, finance and technology sectors to build the first set of transportation industry-specific blockchain standards. BiTA is focused on providing educational resources and open forums through meetings and conferences to industry experts interested in leading the blockchain technology evolution of the trucking industry.
Apex, always technologically savvy, proudly stands at the forefront of that progress.
Are you ready to get paid today with top-tier freight factoring? Apex is here for all your freight factoring needs with cutting edge client services. Visit our website or give us a call at 855-369-2739.