The major US freight Railroad firm BNSF Railway which is owned by Warren Buffett‘s Berkshire Hathaway, recently became the member of BiTA (Blockchain in Transport Alliance). BNSF itself announced the news on 6 February 2018. The firm declared that it has joined the Blockchain Alliance consulting the transportation network. Setting the standards on how data can be exchanged within a transportation blockchain and how that data could be formatted in a more structured way is a major cause of taking this step. The organization find the alliance a relatable one and thus is hoping to figure out certain standards out of it. The only aim is to receive support from all the other members of BiTA and generate some valuable outcomes.
The CIO and President of technology services, Muru Murugappan commented;
‘The technology of blockchain has a weight to modify and enhance various aspects of transportation. But for the implementation of the perks of the technology, it becomes important to enroot some standards. And thus aiming for the same, the organization has taken the membership of the alliance. However, few members of other organisations would not be supportive enough but the ultimate mission is to generate leads.’
Taking this move has led BNSF to become the first Railroad network in North America to form an alliance with blockchain. This step is definitely an affirmative effort towards the positive transformation of transportation industry. BiTA at present have over 200 members from different fields like transportation, logistics and technological industries. It basically aims to develop standard applications of blockchain technology for the group members. Some of the notable members of BiTA are SAP, UPS JD.com etc. Moreover, it is hard to predic the upcoming future of the transportation system at the current scenario, but we could though expect some positive results through this effort.