OpenPort joins Blockchain in Transport Alliance
Digital logistics platform provider OpenPort has joined the Blockchain in Transport Alliance (BiTA).
In a statement sent to Post&Parcel today (15 February), OpenPort Founder and CEO Max Ward said: “In developing regions, where the financial resources allocated for the movement of goods can reach as high as 25% of a nation’s annual GDP, paper-based proof of delivery systems delay invoicing, impact working capital and open the door to disputes.
“For emerging markets experiencing economic growth, freight volumes are outstripping the capacity for efficient and cost-effective scaling, raising logistics costs. New technologies such as blockchain proof of delivery and tokenized micro-rewards for supply chain participants provide a clear solution,” added Ward.
Delivering real-time status updates from tender through to the delivery stage, OpenPort facilitates lower costs, increased control, and improved cash flow. Already supporting many of the world’s largest shippers, including engagements with 7 of the 10 largest multinational FMCGs, OpenPort is Asia’s only multinational digital logistics provider. At present, OpenPort is facilitating direct, transparent relationships among parties in the supply chains of China, Hong Kong, India, Indonesia, Pakistan, and the Philippines.
OpenPort provides transport management software and an app that allows truck drivers to use their phones to capture electronic proof of delivery (ePOD) and send shipment data during transport. The OpenPort system uses blockchain technology to create what the company describes as “an immutable ePOD with an indisputable record of the freight’s history”.
Founded in August 2017, the BiTA has seen over 250 companies join within the last six months. Membes include members include UPS, FedEx, Penske, Schneider National, JD.com, Globaltranz, CH Robinson, and SAP.