Warren Buffett’s Railroad Company Joins Blockchain Transport

Warren Buffett is one of the smartest (and wealthiest) investors in the world. The US-based billionaire has influenced a lot of people about success. According to news, he is the newest member of the Blockchain in Transport Alliance (BITA) which is an organization comprised of 200-plus freight and logistic plays that will embrace the ledger technology in their industry.

What’s interesting is that Buffett has refrained from investing in Bitcoin or cryptocurrencies for ages – but is now backing the organization whose technology is blockchain which is the tech that underpins bitcoin.

Meanwhile, the blockchain technology continues its popularity in many sectors of the economy. From transportation to banking, there is a lot of new ground to be covered for blockchain – including the railroad owned by Warren Buffett which is now joining BiTA whose 200-plus members extend to many popular companies such as UPS and FedEx.

Speaking of which, FedEx has already developed some blockchain pivots underway with a big focus on customer service – and conflict resolution. The leading delivery service will provide greater transparency for the ‘millions of records’ that are inputted in its systems on a daily basis.

As for rail, the distributed ledger technology is also important. According to many experts, blockchain will usher rail into the 21st century and develop standards for the logistics industry and the supply chain.