The Canadian Pacific Railway (CP) has joined the Blockchain in Transport Alliance (BiTA). In joining the commercial blockchain alliance, CP intends to create more opportunities for its clients as well as for the broader supply chain.
In a press release announcing the move, CP stated, “In joining the alliance, CP is supporting BiTA’s mission of producing blockchain standards that allow for interoperability between participants in the global supply chain.”
BiTA is a blockchain alliance that brings together members from the transport, logistics and other affiliated industries. The members share a common goal of driving up the adoption of blockchain technology in the supply chain industry. The alliance develops industry standards, educates its members on the technology and encourages the adoption of blockchain-based solutions.
Based in Tennessee, the alliance formed in 2017 has grown rapidly and has over 500 members in over 25 countries that generate over $1 trillion in revenue annually.
CP’s chief information officer Mike Redeker expressed the company’s excitement at becoming a member of the alliance. He stated, “As part of BiTA, we look forward to creating opportunities and innovative solutions that benefit our customers and the broader supply chain. Joining the alliance is part of CP’s continued focus on developing and supporting technology throughout the supply chain.”
BiTA president Patrick Duffy welcomed CP, saying its expertise will go a long way in furthering BiTA’s mission. He stated, “The alliance is pleased to have CP’s expertise and support as our organization navigates this exciting new digital frontier. Blockchain has the potential to smooth the transactions that occur between shippers and carriers, but it requires the active participation of transportation leaders like CP.”
Some of the largest companies in the supply chain industry and beyond have joined BiTA, including UPS, DHL, FedEx, Anheuser-Busch, BP, PwC, Bridgestone, Daimler, P&G, Altria, HP, Salesforce and Google.
Blockchain in supply chain has blown up in the past few years, with Maersk and IBM partnering in TradeLens, a blockchain platform for supply chain digitization. As CoinGeek reported, the Mediterranean Shipping Company and France’s CMA CGM recently joined the platform. Together with Maersk, the three companies account for over half the total cargo carried by sea. Other members include PIL, Agility, PSA and Seaboard Marine.
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