Wednesday, May 09, 2018

OmniTRAX joins Blockchain in Transport Alliance

Written by  Stuart Chirls, senior editor, Railway Age

An increasing number of rail-related companies are joining an initiative to develop secure digital transactions.

 

 

OmniTRAX, Inc., the privately-held transportation services provider, is the first short line company to join the Blockchain in Transport Alliance (BiTA).

Blockchain is a decentralized, digital ledger in which transactions are recorded chronologically and publicly.

The Alliance, founded in 2017, seeks to engage stakeholders in the transportation, logistics and technology industries who have a shared vision of leveraging blockchain technology within the supply chain to develop a standards framework, educate the market and encourage widespread adoption.

"As a leading transportation services company, we want to have a positive impact on efficiency, security and transparency for our customers and partners, and that's what blockchain offers," said Hubert Gassner, Chief Financial Officer at Denver-based OmniTRAX. "It is critical for the short line and regional railroad sector of the transportation industry to have a seat at the table when supply chain technology standards that can enhance performance are discussed.

Earlier this month, Class I railroad Kansas City Southern and Railinc, the AAR's rail data arm, announced they had joined the Alliance.