GE Transportation, a division of General Electrics that handles transportation equipment for railroads, mining, drilling and power generation, has announced on a press release on March 1 that it has joined the Blockchain in Transport Alliance (BiTA), a global consortium of leaders in the transportation industry that promotes the use of blockchain technology.
BiTA is a standard advocacy organization with high-profile members like FedEx, Penske, Salesforce, Uber Freight, SAP, UPS and more. It was established in 2017. The 290 plus members of BiTA represent more than a trillion dollars in collective revenue. Its main focus is currently on the transport and logistics industries.
GE Transportation is a Chicago-based business that has hubs all over the world. It has always been at the forefront of digital technology. The company joining BiTA further strengthens the position of the trade organization worldwide.
Blockchain is helping the logistics industry with scaling and sustainability. The logistics industry employs a large part of the global workforce and has important stakes in saving costs through using cutting-edge technology. The GE transportation decision to join BiTA ensures there will be more R&D to improve blockchain integration in the transportation and logistics industries.