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BNSF Railway joins blockchain alliance

LBR Staff Writer Published 06 February 2018

BNSF Railway, a unit of Berkshire Hathaway, has joined Blockchain in Transport Alliance (BiTA) to set technology standards of future.

BiTA, which is a group of over 200 freight transportation companies, is involved in the development of  blockchain standards for the logistics industry and supply chain sector.

BNSF technology services vice president and chief information officer Muru Murugappan said: “Blockchain technology has the potential to change several aspects of the transportation industry and it is important that the industry comes together to align around a set of standards.”

BNSF will work with other members of BiTA to determine data for freight transportation blockchain.

The alliance will also study the formatting and structuring of data, helping to apply the apply blockchain as per the requirement.

Blockchain serves as a distributed ledger to help members of a particular blockchain access all the data within.

To alter or approve the change, the support of 51% of blockchain’s participants is required, as the information is shared with each member.

BiTA CEO Craig Fuller said: "BNSF is one of the most important members of the North American transportation network, providing the backbone of American commerce.

“Their embracement of technology standards for the future of the industry will have a profound impact on the future of customer supply chains.”

BNSF operates around 32,500 route miles of track in 28 US states, as well as operates in three Canadian provinces.

The firm transports consumer goods, grain and agricultural products, low-sulfur coal, and industrial goods such as petroleum, chemicals, housing materials, food and beverages.

Image: BNSF became the first class I railroad to join the Blockchain in Transport Alliance. Photo: courtesy of Business Wire.