Chainstack, the Singapore-based provider of decentralized platforms to companies that caters to their particular needs has recently announced a partnership with BiTA, Blockchain in Transport Alliance, that supports a decentralized ledger which aims to provide solutions to the supply chain industry. The forum that was created to deploy solutions for the freight industry will now be utilizing the services of Chainstack, a platform that has been providing a collaborative marketplace for the rapidly evolving decentralized ecosystem.
The industry of supply chain has been completely revolutionized since trading across borders became more common. Keeping track of deliveries across the globe proved to be an arduous task and there is a certain lack of transparency. Blockchain-based platforms have been catering to this problem as it provides transparency, security, flexibility and is also essentially immutable, making it nearly impossible to corrupt data or tamper within it. It is due to these highly advantageous use-cases that platforms like BiTA have emerged to supply a secure way of managing data related to supply chain.
The addition of Chainstack to the Alliance has been deemed as an important one. Chainstack can play an impressive role in bringing DLT-based solutions to the freight industry and can help numerous companies by providing aid in managing their respective supply chains. Chris Burruss, President of BiTA has said,
We are pleased that Chainstack has joined the Alliance, and I believe its technology expertise will help BiTA develop and deploy blockchain standards.
Although the much-noted blockchain technology was introduced as an underlying technology in cryptocurrencies, there are a ton of applications that can help maintain a healthy supply chain which provides complete transparency. Chainstack can manufacture a platform that can keep track of exchanges, contracts, goods and payments as well. The CEO of Chainstack, Laurent Dedenis told,
The transport and supply chain management industries are being enhanced by blockchain-based solutions. The prospect of optimizing processes and cost is huge, and to realize the full potential of blockchain, industry players will need a platform like Chainstack that provides ease of use in deployment and flexibility in cloud and protocol choice.
The official announcement of this alliance can be found here.