The Canadian transcontinental railroad Canadian Pacific (CP) joined the blockchain consortium BiTA, focused on the transport and shipping industry.
CP announced it was joining the consortium in an official press release. According to the announcement, CP aims to support the improvement of supply chains through the blockchain. BiTA, in turn, notes that joining the CP will help the consortium to ensure global supply chain interoperability.
BiTA President Patrick Duffy also commented on the potential benefits of the blockchain in the transport sector, saying that the technology “has the potential to simplify the transactions that take place between shippers and carriers, but require the active participation of major transport companies like CP.”
According to the announcement, BiTA includes about 500 member organizations working in the field of freight transportation, transport, logistics and related industries. The participants reportedly share a common goal of promoting the introduction of new technologies in these sectors, and are also working to establish industry standards for disseminating information about the blockchain.
In January of this year, logistics company Daseke also joined
to the blockchain consortium BiTA. In addition, the consortium includes such giants as UPS, General Electric and FedEx.