UPS Joins Blockchain Freight Group, Exploring Technology in Customs Brokerage Applications
UPS has joined the Blockchain in Trucking Alliance, a forum for development of blockchain technology standards and education for the freight industry, and is exploring applications in its customs brokerage business, UPS announced Nov. 7. The technology would help improve…
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transaction accuracy and by replacing paper-heavy and manual processes, which should help all parties involved in the transactions, UPS said. “Blockchain, a digital database using blocks that are linked and secured by cryptography, can be used to keep record of any information or assets,” the company said. “This includes physical assets, like transportation containers, or virtual assets, like digital currencies.”