According to the General Electric statement, the trade alliance is composed of international corporations such as FedEx, UPS, Penske Logistics and BNSF Railway. The collective revenue of the alliance is larger than $1 trillion.
The BiTA was created in 2017 to integrate blockchain technology to the transportation and supply chain industries.
BiTA’s managing director, Craig Fuller, stated that GE was always “on the forefront of technology” and that he is glad that they are “helping to lead the blockchain framework for the industry.”
Monica Caldas, CIO for GE Transportation stated that “digital Industrial leaders” should first apply advanced technologies internally to boost productivity and then “apply those learnings for our customers’ benefit as well.”
GE Transportation is a division on the multinational American corporation General Electric.