Share this article
Road to Innovation? Truck Giant Penske Joins Blockchain Group
Penske Logistics has become the latest company to join the Blockchain in Transport Alliance.
By Nikhilesh De
Updated Sep 13, 2021, 7:22 a.m. Published Jan 15, 2018, 8:35 p.m.
Global transport company Penske Logistics has become the latest company to join the Blockchain in Transport Alliance (BiTA).
The organization aims to spur blockchain development in the transport industry by creating applications for supply chain and logistics processes, asset tracking, and transaction ledgers, according to a press release. Penske became a corporate member of the alliance on Jan. 15.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company specifically may work on creating applications for its food and beverage transports, as well as for its manufacturing division.
Senior vice president of global products Andy Moses said the company planned to study blockchain technology as part of their joining the alliance.
He said:
"We've joined BiTA to take part in better understanding the benefits of blockchain for our customers and to be a part of crafting the standard framework in the development and implementation of blockchain technology.”
Penske joins companies such as United Parcel Service in the consortium. Last year, UPS announced it was joining to help develop standards for blockchain platforms, including on how to use the tech to facilitate payments.
At the time, the consortium was called the Blockchain in Trucking Alliance, and focused its energies specifically on that industry.
However, the addition of rail companies and other transportation-related groups led to the consortium's name change.
Penske trucks image via EQRoy / Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
What to know:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
