Development of the RAILChain Network for rail industry participants
THE WOODLANDS - Bourque Logistics, the leader in rail logistics systems for more than 29 years, announces its first blockchain project to explore the application of this new technology for its rail shipper clients. Using digitized shipping file formats called "rblocks," RAILChain™will allow shipping parties to securely exchange bill of lading information, as well as settle freight, repair, and lease costs using smart contract technology.
RAILChain will be initially developed using the Ethereum platform with a design to seamlessly interchange with other platforms, as blockchain technology continues to evolve. RAILChain will serve as a highly secure network link between shippers using the Bourque suite of rail applications, including RAILTRAC, RateServer, RAILAcct, and their rail trading partners – consignees, railroads, lessors, and repair shops.
Several Bourque shipper clients have expressed interest in blockchain technology due to the prospect of efficient and secure distribution of rail shipment status and cost information. These shippers will be the first participants in a proof of concept which will provide shared and secure visibility of the rail supply chain.
"We are excited to investigate this new technology on behalf of our clients," said Steve Bourque, president of Bourque Logistics. "By working now to make our rail operations and freight payment systems blockchain compatible, our clients will have options to benefit from this technology as it matures and is adopted within the rail industry."
The RAILChain project builds upon previous design elements of NaviChain, a blockchain network designed for international, intermodal chemical shipments by Tank and Container Management Systems, LLC (TCMS), a partner of Bourque Logistics.