WSBA and BiTA will co-develop materials related to the financing of the global physical supply-chain, and will leverage the industry knowledge and resources from member participants to develop risk-management and supply-chain finance conferences, certifications and educational initiatives.

As part of this collaboration, the organizations are planning an industry conference in June 2018 that will cover topics such as blockchain technology use cases, smart contracts, and the benefits and challenges of blockchain technology in the financial and transport industries.

"In the freight and transport space, blockchain technology offers the ability to create extraordinary efficiencies and help to foster mutually rewarding relationships for all industry participants," said Craig Fuller, Managing Director, BiTA, and CEO, FreightWaves. "Partnering with WSBA affords us the opportunity to bring together our combined, highly influential and forward-thinking memberships to impact widespread adoption across both industries, in the United States and globally. The potential for this conference to affect change is truly unprecedented."

“The WSBA is very pleased to be collaborating with the BITA to guide the evolution of the global transport markets in a future with blockchain technology,” said Ron Quaranta, chairman of the WSBA. “Each organization shares a vision of educating our relative marketplaces on blockchain technology, as well as guiding and promoting its forthcoming adoption. We are very excited about the possibilities our joint efforts will yield.”