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GE Transportation Joins Freight Industry Blockchain Alliance

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GE Transportation, a global services and equipment provider to the rail, mining, marine, power and drilling industries, joined a consortium of transport and logistics companies exploring blockchain possibilities for the freight industry.

The General Electric Co. subsidiary announced that it has joined the Blockchain in Transport Alliance, or BiTA, which is the transportation and logistics industry's trade association for blockchain education and standards development.

The Chicago, IL-based GE Transportation employs nearly 9,000 employees worldwide.

Blockchain is a digital ledger technology capable of recording transactions and storing data in immutable blocks across a distributed network. The technology was developed to support the cryptocurrency, Bitcoin.

"We understand the importance of using data and analytics to drive outcomes for our customers," Monica Caldas, chief information officer for GE Transportation, said.

"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."

Founded in 2017, BiTA has over 230 companies as members, including truckload carriers, third-party logistics, tech firms, major retailers, class 1 railroads, OEMs, parcel carriers, financial service providers and data analytics companies with a collective revenue exceeding $1 trillion.

BiTA members include UPS, SAP, Salesforce, FedEx, Navistar and China's JD Logistics, among others.

"GE Transportation is always on the forefront of technology trends and investments that define the future of freight and supply chains," Craig Fuller, managing director of BiTA, said.

"We are thrilled they are helping to lead the blockchain framework for the industry and will be an active participant in BiTA."

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