Warren Buffet: BNSF Railway Can Be Improved with Blockchain

BNSF Railway, owned by Buffett's Berkshire Group will use the blockchain in Transport Alliance along with over 200 other logistics companies
06 February 2018   295

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.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   41

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.