OpenText, a global leader in Enterprise Information Management (EIM), has joined the Blockchain in Transport Alliance (BiTA) to network with companies exploring the use of blockchain technologies across their supply chain operations. BiTA is the leading organization dedicated to determining best practices and standards related to blockchain in the transportation/logistics/supply chain marketplace.
OpenText Business Network provides a cloud integration platform connecting people, systems and things to facilitate efficient, secure and compliant collaboration across digital supply chains and business ecosystems. OpenText connects some of the world's largest supply chains in the manufacturing, retail, consumer goods and financial services industries.
OpenText customers are currently exploring the use of blockchain technology for track and trace cases and to capture the provenance of goods and materials as they move through the supply chain.
"Blockchain technology is both disruptive and potentially transformative for today's supply chain operations," said Mark Morley, Director of Product Marketing for OpenText Business Network. "Electronic data interchange (EDI) has been used by companies to exchange electronic transactions across their supply chains for more than 50 years. Blockchain is complementary to EDI technologies and will help to capture and retain certain pieces of information being exchanged within these supply chain transactions."
The OpenText Business Network connects more than 800,000 companies, which collectively process more than 26 billion transactions per year.
"We help to digitize some of the largest supply chains in the world," said Morley. "We are keen to discover how blockchain, especially when combined with IoT and AI technologies, can help to develop more autonomous supply chain operations."
Patrick Duffy, BiTA president, stated, "On behalf of the members of BiTA, I welcome OpenText to the Alliance. As an established leader in digitizing and integrating supply chain operations, OpenText's solutions and expertise will help BiTA in its work developing blockchain standards." Duffy continued, "In today's supply chain environment, integration services like those OpenText provides add value and can help companies be more successful."
OpenText, The Information Company, is based in Waterloo, Ontario, Canada. The company enables organizations to gain insight through market leading information management solutions, on premises or in the cloud.
Founded in August 2017, BiTA is the largest commercial blockchain alliance in the world, with nearly 300 members. 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/solutions and distributed ledger technology, and encourage the use of those applications.
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