Norfolk Southern, US railway network announced that it joined the Blockchain in Transport Alliance (BiTA). BiTA, founded in August 2017, is a leading trade association that develops standards and education in Blockchain technologies. The alliance focuses on the peer-to-peer recording of transactions using cryptography and distributed ledgers.
Norfolk Southern announced that it would participate in the consortium’s mission of establishing standards for logistics companies using blockchain technology. BiTA consists of more than 250 companies and hopes to educate the market and advance the use of blockchain technology. All the transportation and logistics companies also hope to improve blockchain applications within the supply-chain of the industry.
Fred Ehlers, vice president information technology and Chief information officer write that the partnership helps identify opportunities where blockchain “can be used to improve transportation supply-chain for customers.” Norfolk Southern maintains a number of railway lines across the Eastern Seaboard. Chris Burruss, president of BiTA comments that the partnership brings a level of intermodal and rail expertise to the Alliance. The partnership is expected to benefit members and the transportation industry as a whole.
Norfolk Southern Joins Other Firms In Blockchain Transport Group Alliance
Earlier this year, other companies including BNSF Railway, owned by Warren Buffet’s Berkshire Hathaway joined BiTA. BNSF mentioned that it joined the Alliance in an effort to work with other members to achieve a common goal. Muru Murugappan, vice president of technology services at BNSF writes that blockchain technology has “the potential to change several aspects of the transportation industry.”
In March, General Electric joined BiTA with the aim of developing standards around the tech’s use in that cargo transport industry. The company said it joined the consortium as part of an effort to study possible applications of blockchain to its operations.