U.S. railway network Norfolk Southern has become the latest industry player to join the Blockchain in Transport Alliance.
One of less than a dozen Class I railroads in North America, Norfolk Southern announced Thursday that it would participate in the consortium’s mission of establishing standards for logistics companies using blockchain technology, according to a press release.
The company maintains a number of rail lines across the Eastern Seaboard, in addition to providing coal and intermodal transport services in the region.
BiTA vice president Fred Ehlers said in a statement that the rail line would help with streamlining supply chain processes using blockchain.
The statement was echoed by BiTA president Chris Burruss, who said that more than 250 members of the alliance are working toward creating “common blockchain standards that will define the future of freight movement,” according to the release. He added:
“Norfolk Southern brings a level of intermodal and rail expertise to the Alliance that will benefit all members and the industry as a whole as we move toward a common framework. We look forward to engaging with them as we move forward.”
The rail line joins companies such as the Berkshire Hathaway-owned BNSF Railway, which joined the alliance earlier this year. Similarly, General Electric’s transportation division became a member in March.
Norfolk Southern image via Jonathan Weiss / Shutterstock
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Source: CoinDesk.com
