BNSF Railway, which is owned by Warren Buffett's BerkshireHathaway Inc., said Monday that it has joined the Blockchain inTransport Alliance, a group of more than 200 freight and logisticscompanies that are exploring how to use the digital-ledger technology in theirindustry.
|The effort is still in its early stages, but the group hasalready attracted companies including United Parcel Service Inc.and FedEx Corp., as well as trucking firms like Schneider NationalInc. BNSF, one of seven major railroads in the U.S. and Canada, isthe first of its peers to join the alliance.
|While blockchain has gotten most attention as the technologyunderlying cryptocurrencies like bitcoin, several industries have been studyingother potential uses. The transportation alliance sees it beingused for everything from vehicle maintenance to fraud detection,according to a slide presentation on the group's website.
|From: Bloomberg
|Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
