Warren Buffett’s railway company joined the blockchain alliance

By

BNSF Railway, the second largest transcontinental railway in North America, owned by Warren Buffett, joined the BiTA blockchain alliance.

According to the publication of February 5, BNSF announced that it joins the alliance in order to develop standards for data transfer through transport in the blockchain system together with the rest of its members, and to form a common format and principles for structuring data in this area.

Muru Murugappan, BNSF’s director of information technology, said:

“Blockchain technology has the potential to change several aspects of the transport industry. Of particular importance is the interaction at the industry level and the creation of a set of standards.”

Thus, BNSF became one of the first railway companies in North America to recognize the role of blockchain in the transformation of its business.

At present, the BiTA alliance includes about 200 members working in the fields of logistics and transport and wanting to formulate common principles of interaction with the use of blockchain. Among other members of the alliance are SAP, UPS, Fedex and the logistics division of the Chinese online retailer JD.com. The last two companies joined the alliance last month, wanting to use the blockchain in their daily activities.

Leave a Comment

Your email address will not be published.

You may also like

Hot News