KPMG will help BiTA develop blockchain standards for transportation industry. This standards will determine blockchain’s use in freight for years to come
KPMG LLP is entering into a partnership with the Blockchain in Transport Alliance (BiTA) to help develop blockchain standards for the transportation industry.
Transportation industry is currently confronted with managing the complexity associated with supporting smart warehouses, expedited and competitive shipping practices, and the evolution of brick-and-mortar to online retail business models. While blockchain can address these challenges, a common foundation is needed across freight and technology organizations.
A sustained business growth is dependent upon reducing the costs, risks and security issues associated with current transport logistics systems.
Blockchain to change the transportation industry
KPMG’s U.S. Blockchain Leader Arun Ghosh noted that even with major advances in technology, transport logistics remain expensive and vulnerable.
“Blockchain has the potential to solve these issues and disrupt many of the systems that freight organizations have relied upon for decades, while creating greater transparency, speed, reliability and trust within organizations’ core operations, including their supply chain.”
Chris Burruss, BiTA President, believes that blockchain will fundamentally change the transportation industry.
“We are very proud to have KPMG join BiTA. Their global reach and perspective across advisory, audit and tax is invaluable in establishing the industry standards that will determine blockchain’s use in freight for years to come,” Chris Burruss added.
KPMG is one of the world’s leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world’s largest and most prestigious organizations.
