Software Engineering Firm EPAM Joins Blockchain in Transport Alliance

Published at: Aug. 19, 2019

Software engineering and IT consulting services firm EPAM Systems Inc. has joined the Blockchain in Transport Alliance (BiTA) that develops blockchain practices and standards in the transportation, logistics and supply chain industry.

According to a press release on Aug. 19, EPAM determined 21 real-world use cases of blockchain tech in industries such as life sciences, transportation, logistics, agriculture, consumer packaged goods, manufacturing and retail, insurance and healthcare. The BiTA will purportedly use EPAM’s software engineering expertise to further improve blockchain development and establish standards.

Blockchain hype vs practical applications

Commenting on the collaboration, Jitin Agarwal, EPAM's vice president of enterprise products, said that the firm wants clients to better understand how distributed ledger technologies can be practically used, stating:

"With all the buzz and hype in the market, some companies assume that blockchain is the ultimate be-all, end-all solution for any business challenge. At EPAM, we're working closely with our customers to help them truly understand how they can utilize distributed ledger technology, in combination with our other solution offerings, to increase efficiency and unlock new business models.”

Earlier in August, Canada’s transcontinental railway, Canadian Pacific (CP), also joined the BiTA to support improvements in supply chains through blockchain technology. At the time, BiTA president Patrick Duffysaid that blockchain: “has the potential to smooth the transactions that occur between shippers and carriers, but it requires the active participation of transportation leaders like CP."

Blockchain has been gaining popularity in the transportation and supply chain industries. Recently, the national carrier of the United Arab Emirates Etihad Airways partnered with Winding Tree, a blockchain-based platform for the travel industry, to research how blockchain can aid in distribution.

Tags
Adoption
Blockchain
Supply Chain
Related Posts
Logistics system provider will connect Dutch ports via blockchain
Dutch logistics solutions provider, Portbase, has successfully completed the first phase of their integration with blockchain-based platform, TradeLens. Together, they will handle operations and core processes for ports in Amsterdam and Rotterdam. According to the announcement, both Portbase and TradeLens expect to create a global ecosystem of carriers, ports, and terminals through a digital port infrastructure management system. Going forward, these upgrades will be powered by TradeLens’ blockchain infrastructure. Iwan van der Wolf, managing director of Portbase, explained how Blockchain is being used to more effectively organize the company’s operations: “It allows all players in the logistical chain to easily, …
Adoption / Sept. 1, 2020
What lies ahead for crypto and blockchain in 2021? Experts answer
It would be fair to admit that after 2020 and all it has put us through, making any predictions for the upcoming year is most likely to be a game of blindfold. Meanwhile, I am certain that humanity has much to learn from its past transgressions, and will move forward by correcting our mistakes and weaknesses. That’s what we always do. Undoubtedly, the major driver of our development this year was the COVID-19 outbreak. The effects of the ongoing global pandemic on every aspect of our lives will form our future, and there are some tendencies we started last year …
Adoption / Jan. 4, 2021
Thai Oil and Gas Firm Develops Blockchain-Based Renewables Platform
Thailand-based multinational energy conglomerate PTT and blockchain energy nonprofit Energy Web Foundation (EWF) are jointly building a blockchain-based renewables platform. According to a press release shared with Cointelegraph on Sept. 11, the parties are developing a regional solution based on the Energy Web Chain. The new product will also be compliant with the International Renewable Energy Certificate (I-REC) Standard, which certifies renewable energy sources. I-REC certificate demand Energy producers can apply for I-REC tracking certificates from an issuer appointed by a government or trade organization. Once the tickets are submitted to a central registry, energy suppliers and purchasers can prove …
Adoption / Sept. 11, 2019
Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts
An upcoming supply cut could help bitcoin (BTC) prices rise further in the coming months, crypto fund manager Brian Kelly told CNBC on May 21. Speaking to the Fast Money program, he explained that “the halvening,” next due to take place in 2020, will see mining rewards cut in half. With many miners now hoarding BTC, Kelly predicted that prices will rise as increased demand — tied to increasing industrial adoption and retail uses — competes with diminished supplies. Describing the four-year cycle that leads up to “the halvening,” Kelly added: “You generally have a rally a year into it, …
Adoption / May 22, 2019
Canadian Firm to Build Blockchain-Based Supply Chain Platform for Cannabis Industry
Canada-based blockchain and crypto company DMG Blockchain Solutions Inc. (DMG) has announced the development of a global supply chain management platform for the legal cannabis industry, according to an announcement published Oct. 17. As reported by Canada’s national public news and information service CBC, the country’s government officially legalized recreational marijuana as of today. Cannabis was previously available only for medicinal use within the country. According to Health Canada, there are currently over 120 licensed cannabis producers in Canada, where one of the top producers has already stated that labor shortages and supply chain issues could lead to scarcity soon …
Adoption / Oct. 17, 2018