The multinational conglomerate, GE or more precisely a division of GE, General Electric Transportation is now a member of the Blockchain Transportation Alliance. This adds to the ever growing large players betting and adding their credibility to the transportation, supply chain, and logistics aspects of blockchain technology.
The rapidly growing world of blockchain is reminiscent of the Internet’s growth in the 1990s, where almost every large company from every industry was striving to adopt the then-revolutionary technology to utilize it for its own benefit.
While the technology seemed to be intricate and the process of adapting it to different industries seemed even more difficult, it all came together eventually as more and more people got to learn about the basics, the advancements, and the use cases of the Internet – bringing about a world in which you can read this very article so easily.
The same goes for blockchain and its various use cases that are yet to be developed. Fortunately, and with all thanks to the Internet, the companies do not have to do it alone anymore. Interested entities have been able to join alliances where they can research the adaptability and development of the projects under the umbrella of objective driven consortiums.
One such group is the Blockchain in Transportation Alliance (BiTA), which holds some of the biggest names in the transportation, freight and logistics industry as its members – all coming together to research the usage of blockchain in their respective markets.
Holding members the likes of UPS, FedEx, Daimler and Bridgestone, the BiTA aims to develop real world usage of blockchain in the transportation industry in a broader sense while also developing solutions for more specific niches, such as the usage of blockchain in supply chain networks.
With another industry giant announcing its inclusion to the BiTA, the alliance has stumbled upon a newfound buzz, which is gathering it attention from both the blockchain and the transportation industry.
GE Transportation joins Blockchain research for Blockchain Transportation
GE Transportation recently revealed that it will be joining BiTA for the same purposes of research and development as its peers.
The company, which is known as one of the industry leaders when it comes to logistics, service, and supply that ranges from the rail to the marine industries, is already known for its technology driven initiatives.
The current technology programs which are spearheaded by the company range from digitized railroad operations, called RailConnect, to cloud-powered port accessibility software, dubbed Port Optimizer – which are just two of the slew of solutions that GE Transportation has developed over the years in collaboration with industry partners in order to digitize the world of freight and logistics, and to keep up with the innovational requirements that today’s technology driven market keeps presenting to stakeholders.
That is why, the company is very optimistic to contribute to the BiTA with its experience, and hopes to further develop the utilization of blockchain in the industry.
“As GE Transportation extends its capabilities into the broader supply chain, we’re connecting partners and customers at every node and across multiple modes,” Laurie Tolson, Chief Digital Officer of the company, said through a released statement.
“We look forward to bringing our applications to BiTA as we collectively seek to leverage the potential of blockchain across the industries we serve.” Tolson added further.