Norfolk Southern (NYSE: NSC) today announced it has joined the Blockchain in Transport Alliance. Founded in August 2017, BiTA is 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.
A consortium of more than 250 transportation and logistics companies, BiTA seeks to cultivate a set of industry benchmarks, educate the market, and advance blockchain technology and its transportation and logistics applications within the supply-chain.
“Norfolk Southern’s membership with BiTA will help us identify opportunities where blockchain can be used to improve the transportation supply-chain for our customers,” said Fred Ehlers, vice president information technology and chief information officer.
Blockchain technologies create a permanent, digital ledger of transactions that can be securely shared among a distributed network of computers. BiTA brings together freight and transportation companies that are working towards the development of blockchain technology to advance supply-chain efficiencies.
"As BiTA membership has grown, companies in all areas of the supply-chain have joined forces to help us work toward common blockchain standards that will define the future of freight movement,” said Chris Burruss, president of BiTA. “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.”
About Norfolk Southern
Norfolk Southern Corporation (NYSE: NSC) is one of the nation’s premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 19,500 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal, automotive, and industrial products.
Founded in August of 2017, BiTA promotes the development and adoption of blockchain applications in the trucking, transportation and logistics industries, including establishing industry-wide standards. Members include truckload, LTL, and parcel carriers, as well as shippers, tech startups and incumbents, insurance companies, law firms, and other industry participants who have an interest in integrating blockchain technology into their organizations. Visit BiTA at https://bita.studio/.