Coindesk Logo

Warren Buffet's Railroad Firm Joins Blockchain Alliance

Warren Buffet's Railroad Firm Joins Blockchain Alliance

Warren Buffet's Railroad Firm Joins Blockchain Alliance

A major U.S. freight railroad network operator owned by Warren Buffet's Berkshire Hathaway has joined the Blockchain in Transportation Alliance.

A major U.S. freight railroad network operator owned by Warren Buffet's Berkshire Hathaway has joined the Blockchain in Transportation Alliance.

A major U.S. freight railroad network operator owned by Warren Buffet's Berkshire Hathaway has joined the Blockchain in Transportation Alliance.

AccessTimeIconFeb 6, 2018, 3:00 PM
Updated Aug 18, 2021, 8:07 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

BNSF Railway, a major U.S. freight railroad network owned by Warren Buffet's Berkshire Hathaway, has become the latest member of the Blockchain in Transport Alliance (BiTA).

Announcing the news on Feb. 5, BNSF said in a statement that it joins the alliance in an effort to work with other members to set standards for how data can be transacted within a transportation blockchain, as well as how that data needs to be formatted and structured.

Muru Murugappan, BNSF's CIO and vice president of technology services, commented:

"Blockchain technology has the potential to change several aspects of the transportation industry and it is important that the industry comes together to align around a set of standards."

With the move, BNSF also becomes one of the first railroad network operators in North America eyeing a role for blockchain in pushing through an industry transformation.

BiTA currently has over 200 members from the logistics, transportation and technology industries, and aims to develop standard applications of blockchain technology for the group's members.

Current notably members include SAP, UPS as well as Fedex and the logistic arm of China's e-commerce giant JD.com – the latter two joining the alliance just last month in an effort to integrate blockchain into their daily operations.

BNSF image via Shutterstock

G

M

T

Text-to-speech function is limited to 200 characters

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.