Advancements in the logistics industry over the past ten years have been vast, especially in over-the-road shipping modes with shippers utilizing 3PLs at record levels for domestic transportation management. The move toward partnering with logistics service providers has allowed shippers to use the power of modern technology to increase visibility and track product movements throughout their supply chains with greater efficiency than ever before. Unfortunately, rail has not seen advancement at the same pace, leaving shippers with the perception that rail carriers are behind the times.
Add Norfolk Southern to the growing list of railroads that have joined the Blockchain in Transport Alliance. BiTA, founded in August 2017, is described as “the transportation and logistics industry’s leading trade association for developing standards and education in blockchain technologies, a field focused on the peer-to-peer recording of transactions through use of cryptography and distributed ledgers.”
An increasing number of rail-related companies are joining an initiative to develop secure digital transactions.
Add two more rail companies to the industry group promoting blockchain transaction technology.
BNSF Railway Company announced it recently became the first Class I railroad to join the Blockchain in Transport Alliance (BiTA), comprising more than 200 freight transportation companies working to develop blockchain standards for the logistics industry and the supply chain as a whole.