Page 42 - Arkansas Trucking Report Volume 23 Issue 2

Lane Black addresses the group

attorneys as a possible example. “I don’t
“I DON’T THINK SMART CONTRACTS ARE GOING TO think smart contracts are going to put
PUT LAWYERS OUT OF BUSINESS, BUT IT CERTAINLY lawyers out of business, but it certainly
may change their role,” says Burruss,
MAY CHANGE THEIR ROLE.” during his presentation entitled,
“Blockchain Revolution in Transport.”
–CHRIS BURRUSS, PRESIDENT OF BLOCKCHAIN BiTA has two focuses. One is
IN TRANSPORT ALLIANCE stakeholder engagement, education,
networking and benchmarking. The
second focus is the standards council, a
sis and analytics,” says Craig. between two parties. In some cases, it’s separate 501(c)(6) industry association.
Because much of the buzz around an event that’s triggered by specified Explaining the logic behind separating
blockchain technology — particularly as actions. The code for the smart contract the two verticals, Burruss stated, “It’s
it relates to cryptocurrencies — makes it is placed in the blockchain, and it self- important the standards piece not get
sound very Wild West, one may assume executes on triggering events, explains mired down in bureaucracy.”
anything developed using blockchain Craig. To date, BiTA has 1600 applica-
technology must be public. However, tions in hand and 275 paid members.
that’s not the case. Instead, there are BLOCKCHAIN STANDARDS Industry participants come from all sec-
public blockchains, in which any person “Blockchains have no inherent tors — rail lines, technology, telematics
or group can read or write transac- value for internal functions,” Craig companies, even universities. In fact,
tions — such as Bitcoin. On the other says. Instead, “It’s about an interoper- the University of Central Arkansas was
hand are permissioned blockchains, in able system of blockchains.” There may the first university member. And while
which participants are “known, trusted, be a blockchain for carriers, shippers, Bitcoin is bringing some unwanted
and preapproved” and only “permis- the finance sector, human resources, attention from the government to
sioned read and/or write access to the driver ID and many other areas. To blockchain tech, not all attention is
database” is granted, explained Craig. help develop standards that allow negative. The Department of Defense
There is still no central authority, those blockchains to interoperate, the has been in touch about the possibil-
but because the participants must be Blockchain in Transport Alliance, or ity of using blockchain to track nuclear
granted access, they will go through a BiTA, was formed in mid-August of weapons, and FEMA is interested in
preapproval process. On a permissioned 2017. “BiTA is what will make block- how blockchain technology can create
blockchain, not everything on the chain in transportation successful,” greater efficiency during disaster relief.
blockchain must be deeply encrypted. says Craig. The standards created by BiTA will
Some of the major potential for Chris Burruss, ex-officio member be open-source and royalty free, Burruss
blockchain lies in smart contracts. It’s of the board of directors of the newly- explained, in an effort to help ensure
not a contract that creates a contrac- formed BiTA, acknowledges that not that future blockchains are able to work
tual obligation — though it could later everybody wins with the implementa-
become used for that — it’s an agreement tion of blockchain technology, citing 

42 Issue 2 2018 | ARKANSAS TRUCKING REPORT