TRAC Intermodal Joins Blockchain Initiative
Blockchain in Transportation Alliance (BiTA) Is An Organization For The Development Of Blockchain Standards And Education For The Transportation Industry, With The Goal Of Bringing Together Leading Companies That Are Committed To Developing Blockchain Technology
TRAC Intermodal has joined the Blockchain in Transportation Alliance (BiTA), an organization for the development of blockchain standards and education for the transportation industry, with the goal of bringing together leading companies that are committed to developing blockchain technology.
“TRAC Intermodal has joined BiTA to better understand the role that blockchain can play in improving transparency and creating greater efficiencies among all the stakeholders in chassis provisioning,” said Keith Lovetro, President and Chief Executive Officer at TRAC Intermodal. He went on to say that, “We see this partnership as an ideal opportunity to help develop best-in-class standards for blockchain in our industry.”
Blockchain is a shared, distributed ledger that facilitates the process of recording transactions and tracking assets in a business network both tangible and intangible, allowing them to share information more efficiently and securely to improve global trade.
TRAC Intermodal is North America’s leading provider of intermodal marine equipment and chassis pool manager, with nine pools under management across the U.S. TRAC Intermodal has the largest fleet of marine and specialty chassis in North America and operates an extensive network of facilities comprised of over 600 marine locations, 60 depots and 8 TRAC Service Centers.
About TRAC: TRAC is committed to providing the best chassis solutions and superior customer service to the intermodal industry. We set the standard for chassis dependability, service and value. We operate in a way that minimizes risk to our customers, helps improve our customers’ efficiency and ensures chassis reliability and roadability during the first and last mile of freight transportation.
The TRAC story truly began in 1968 with the formation of Interpool Limited. The company started as a container leasing company that provided dry freight containers under long-term leases to the world’s largest shipping lines. In 2010, around the time Ocean Carriers began divesting chassis and getting out of the chassis provisioning business, the company was again renamed – this time as TRAC Intermodal, also known simply as TRAC. Today, TRAC is the largest provider of marine and domestic intermodal equipment throughout the United States, Canada and Mexico.