Kansas City Southern (KCS) (NYSE: KSU) announced today it has joined the Blockchain in Transport Alliance (BiTA). BiTA was founded to engage thought leaders within the transportation and technology industries who have a shared vision of leveraging blockchain technology within the supply chain with a goal of developing a standard framework, educating the market and encouraging its widespread adoption.
“KCS recognizes the potential of this technology to create transparency and efficiencies throughout the supply chain to better serve the interests of our shippers and partners,” said KCS senior vice president operations support and chief information officer Mike Naatz. “We are pleased to be among the group of transportation and logistics leaders who are working to establish standards and leverage the opportunities for all.”
Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances are primary components of a railway network linking the commercial and industrial centers of the U.S., Mexico and Canada.
The Blockchain in Transport Alliance (BiTA), founded in August 2017, is a forum for promotion, education and encouragement to develop and adopt blockchain applications in the trucking, transportation, and logistics industry. BiTA’s goal is for members to participate, discuss, create and adopt industry standard uses of blockchain applications and to provide clarity and direction for the development of blockchain technology in the trucking industry in a manner that will create efficiency, transparency and foster trust.