GE's Transport Arm Joins Blockchain Consortium

NEWS
Nikhilesh De
Mar 5, 2018 at 16:45 UTC  |  Updated  Mar 5, 2018 at 16:47 UTC

General Electric has joined a blockchain consortium through its transportation division.

GE Transportation announced last Thursday that it has become the latest member of the Blockchain in Transport Alliance (BiTA), which aims to develop standards around the tech's use in the cargo transport industry. With the move, GE becomes the latest major firm to link up with the effort, joining a list that includes UPS, FedEx and the logistics arm of Chinese e-commerce company JD.com.

In statements, the company said that it joined the group as part of an effort to study possible applications of blockchain to its operations.

"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, GE Transportation's chief digital officer, said in a statement, adding:

"We look forward to bringing our applications to BiTA as we collectively seek to leverage the potential of blockchain across the industries we serve."

CoinDesk has previously reported on GE's publicly-acknowledged focus on blockchain by way of its intellectual property efforts.

Last year, the U.S. Patent and Trademark Office released five patent applications, all filed in 2016, which each described a different blockchain application to aid in the streamlining of aircraft maintenance.

GE included an option to pay relevant parties using cryptocurrencies or some other blockchain-based system, as previously reported.

Truck driving image via Shutterstock

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Supply ChainGEBITAGE Transportation