VANCOUVER, British Columbia, Nov. 08, 2018 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT) (FRA:C0B) (litelinktech.com), a leading blockchain enterprise and artificial intelligence solutions provider, has joined the Blockchain in Transport Alliance (BiTA). BiTA was formed to establish a set of standards and to educate businesses within the freight/transportation/logistics/supply chain marketplace. By becoming a BiTA member, LiteLink gains the opportunity to join the unified charge in promoting and educating an entire industry about the added benefits of blockchain technology.
Blockchain technology enables transactions to be identified and tracked digitally and shared across a distributed network of computers. In the supply chain, blockchain enables participants to more effectively track goods and freight. Blockchain will allow transportation and logistics companies to operate in a more seamless and transparent manner, and can also help to create new revenue streams and value for customers by supporting a system able to complete transactions, track shipments and manage fleets.
Founded in August 2017 by technology and transportation executives, BiTA educates and encourages the use of blockchain technology applications which benefit the entire freight industry and the customers it serves. The BiTA member community is made up of hundreds of well-known companies such as UPS, FedEx and Salesforce. Each of these members believes that blockchain is pivotal to the next frontier of growth for the freight industry. Members of the Alliance work collectively to develop a set of standards which will assist in the revolution of the supply chain.
“We are honoured to be working in tandem with so many like-minded members who are looking to enhance the logistics behind the freight industry and beyond,” said Ashik Karim, CEO of LiteLink. “Our experience working in blockchain has allowed us to identify niche opportunities that we are developing in anticipation of rapid industry progression over the forthcoming months.”
According to Chris Burruss, President of BiTA, “Blockchain has the potential to transform the supply chain by improving transparency and innovation. “Therefore, on behalf of the BiTA membership, I want to welcome LiteLink Technologies to the Alliance. Their expertise in developing blockchain applications will help BiTA develop and deploy blockchain standards.”
The new affiliation with BiTA provides LiteLink with the opportunity to join real-time discussion boards, collaborate on the future of blockchain technology, and speak at events such as the BiTA Fall Symposium, which takes place on November 14th at the Gaylord Texan Resort & Convention Center in Grapevine, Texas.
LiteLink is currently working to develop the ‘1Shift Logistics’ platform (“1Shift”), an end-to-end logistics management solution platform that addresses the fragmented logistics marketplace. This problem is compounded by suppliers using outdated legacy systems that require a manual workforce to complete routine and simple tasks. LiteLink’s unified communications platform will allow carriers, shippers and brokers to track shipments, and solve disputes and errors with real-time analytics, to bring cost efficiencies for all parties.
LiteLink will be attending the FreightWaves’ MarketWaves18 event, which takes place just prior to the BiTA Fall Symposium. Providing a live demonstration of 1Shift at their booth that will give early adopters in the freight industry an opportunity to see, touch and feel the 1Shift platform and witness it in full operation. 1Shift will offer a real-time transparency and tracking system for all transport intermediaries, as well as delivering peer-feedback and regulation. Based on the availability of real-time data, 1Shift users will be able to make tactical and strategic decisions to create a more efficient, streamlined supply chain.
About LiteLink Technologies Inc.
LiteLink is a blockchain enterprise solutions and payments provider that acquires and develops businesses devoted to enhancing the future of blockchain. Leveraging an extensive network of product development communities and digital media, LiteLink builds and creates partnerships with blockchain technology startups which turn simple, innovative ideas into businesses supercharging the industry. Find out more about the Company at www.litelinktech.com. Find out more about the Product at www.1shiftlogistics.com.
About the Blockchain in Transport Alliance
BiTA has quickly grown into the largest commercial blockchain alliance in the world, with more than 450 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. BiTA has offices in: Chattanooga, Tennessee (USA); Sydney, Australia (Asia-Pacific Region) and London (European Region). For more information, please visit the BiTA website at www.bita.studio.
For further information, contact Bronson Peever at 604.351.2085 or [email protected].
Forward-looking Statement
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
