Transportation industry sees benefits in the blockchain. At the moment, the alliance examines ways to use the blockchain in order to improve the maintenance, control quality and prevent fraud in the industry. The transport and logistics industries are examining blockchain technology to streamline and improve information flow and security.
Warren Buffet, who was an outspoken critic of cryptocurrency and blockchain in the past, believes that this technology has benefits, which will help to manage complicated logistics.
According to the alliance website, BNSF Railway will join market standards including FedEx Corp and United Parcel Service Inc, German software company SAP SE, Bridgestone Corp and some banks.
BNSF operates in 28 U.S. states and Canada and is among the largest of Berkshire’s business units. It generated $2.84 billion of profit in the first nine months of 2017. BNSF Railway is one of the most important transportation networks in North America that is why it is necessary to improve it with the help of fast-developing technology.
Warren Buffet hopes that BNSF Railway will attract more transport industries and inspire them to exam blockchain technology together.