The logistics arm of Chinese retail and internet giant JD.com has joined the Blockchain in Transport Alliance (BiTA).
The firm said in an announcement yesterday that JD Logistics joins the alliance with the aim of sharing its knowledge and applications of blockchain technology with other international freight firms, including fellow BiTA members UPS, FedEx, Penske and more.
BiTA was set up with the aim of developing and promoting blockchain standards for global freight and logistics companies.
JD Logistics, formed in 2017, is the first Chinese logistics enterprise to join the alliance, the announcement states. The company said it plans use blockchain in the optimization of supply chains, cross-border logistics and communications, as well as to help improve collaboration on the tech within the industry.
The news comes just a day after shipping giant FedEx announced its membership of BiTA.
Blockchain tech is increasingly being viewed as a potential means to bring more efficiency, transparency and lower costs to the logistics industry.
Just last month, blockchain technology startup Skuchain and NTT Data Corporation partnered to develop blockchain applications for supply chains. The partners said they will work to complete a system that integrates blockchain with the internet of things (IoT) to help solve problems with traditional supply chain methods.
Global shipping giant Maersk has also indicated it is spinning off its blockchain work with IBM in an effort to foster collaboration between its competitors. The yet-to-be-named joint venture is aimed help ensure transparency and a level playing field among participants, the firm told CoinDesk on Jan. 16.
JD.com image via Shutterstock