Memphis-based decentralized ledger technology (DLT) development shop Web3devs LLC has joined the Blockchain in Transport Alliance (BiTA). The Alliance is comprised of logistics, transportation and supply chain companies. BiTA aims to develop best practices and industry-accepted standards for blockchain technology in the freight industry.
Blockchain is an open, distributed digital ledger that can record and share transactions between two or more parties efficiently, securely and permanently. Using a distributed ledger, blockchain enables transportation companies to more accurately track shipments, routes and trucks while providing a highly secure platform that permits faster processing and payments. We are early in the mass adoption of blockchain technology. There are many industry standards to be developed and adopted.
“Web3devs is a valued citizen of the University of Memphis UMRF Research Park. Therefore, we congratulate it for joining BiTA,” said Ted Townsend, UMRF Research Park’s Chief Economic Development & Government Relations Officer. “Blockchain is one of the most exciting technologies developed in the past few decades. It will touch high-growth industries such as logistics, where the University’s research in this sector is nationally recognized.”
The majority of the Web3devs team works out of the University of Memphis UMRF Research Park. Web3devs is a decentralized team that began in 2017 with a WordPress plugin to allow anyone to write to the Ethereum blockchain. Since then, the team’s expertise has led to involvement in development projects, consulting work, speaking engagements and hackathons around the globe.
“Past blockchain projects have resulted in our [Web3devs] developers establishing best practices and frameworks. We are excited to join the BiTA community. Our Memphis roots have us identifying where we can help the logistics/supply chain industry adopt blockchain technology,” stated Scott Finney, co-founder of Web3devs.
Additional BiTA members with a Memphis connection include FedEx, the University of Memphis, IMC Companies, LLC. and CTSI Global Logistics.
BiTA President Patrick Duffy said, “On behalf of the BiTA membership, I welcome Web3devs to BiTA. Its expertise in DLT will assist in the effort to develop standards for blockchain in the areas of transportation, logistics and supply chain.”
About Web3devs LLC
Web3devs is a global blockchain development firm founded in 2017 by an experienced team of fintech, logistics, and security professionals. Web3devs strives to stay up-to-date on cutting edge blockchain technologies by actively contributing to open-source projects and physically attending (and routinely winning) hackathons around the world in order for them to create innovative, secure, and reliable blockchain-integrated applications.
Founded in August 2017, BiTA has quickly grown into the largest commercial blockchain alliance in the world, with nearly 500 members that collectively generate over $1 trillion in revenue annually. BiTA members are primarily from the freight, transportation, logistics and affiliated industries. Alliance members share a common mission to develop a standards framework, educate the market on blockchain applications and encourage the use of those applications.