General Electric has become a new member of Blockchain in Transport Alliance.
The announcement made on 1 February 2018 by GE Transportation emphasized that the company joined Blockchain in Transport Alliance (BiTA), becoming the last active member of this alliance. The collaboration has the purpose to develop and improve the technological system used in the cargo transport industry.
Thus, once with the alliance, GE Transportation joined other major companies, such as UPS, FedEx and JD.com in order to start implementing new tech strategies.
The GE Transportation’ Chief Digital Officer- Laurie Tolson stated that “As GE Transportation extends its capabilities into the broader supply chain, we’re connecting partners and customers at every node and across multiple modes”.
GE Transportation’s purpose
The company has joined the influential alliance in order to study, find and implement possible blockchain- based applications to its transportation operations.
Monica Caldas, the Chief Information Officer for GE Transportation explained that “We look forward to bringing our applications to BiTA as we collectively seek to leverage the potential of blockchain across the industries we serve. As a company, we’ve defined what it means to be a Digital Industrial leader – employing these technologies first internally to drive productivity and then applying those learnings for our customers’ benefit as well.”.
BiTA or Blockchain in Transport Alliance was founded in the fall of 2017 by tech and transportation experts with the purpose to design a forum which will work on improving the blockchain standards as well as education for the freight industry.
According to BiTA’s website, their goal is “to bring together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology”.
Since the company’s launching, over 230 companies have joined the alliance. These include “truckload carriers, third-party logistics, tech firms, major retailers, class 1 railroads, OEMs, parcel carriers, financial service providers and data analytics companies”.
The Managing Director of BiTA, Craig Fuller has mentioned in Press Release that “GE Transportation is always on the forefront of technology trends and investments that define the future of freight and supply chains. We are thrilled they are helping to lead the blockchain framework for the industry and will be an active participant in BiTA.”.
About the GE Transportation
It’s a global tech leader and supplier of necessary items for “the rail, mining, marine, stationary power and drilling industries”. The company enjoys a loyal and numerous clientele. The services they offer enable customers to deliver products in a fast, cheap and efficient manner thanks to their technology and machines.
GE Transportation is a child-company of the General Electric Company, which started its activity as “a pioneer in a passenger and freight locomotives”. With the headquarter in Chicago, the company has over 9.000 lucky employees worldwide.
GE Transportation boasts with a global clientele and positive reputation. Once the company embraced the blockchain technology, it expects that its services will be delivered at a higher level. The Blockchain in Transport Alliance is a great opportunity to improve the company’s relationships and operations.