A Welcome Standards Discussion for Vetting its RAILChain Design

THE WOODLANDS, Texas - Bourque Logistics, the leader in rail logistics systems for more than 29 years, announces its membership in the Blockchain in Transport Alliance (BiTA). This recently formed industry group, with over 210 members, represents an important effort to develop blockchain standards for multi-mode logistics participants.

In addition to defining blockchain standards, Bourque Logistics seeks to evaluate transaction types with BiTA members to prioritize the highest return blockchain transactions for its rail shipper customers. Starting in 2017, discussions arose between Bourque and its clients about how blockchain technology could alleviate certain inefficient rail logistics issues. This effort resulted in an initial design for digitized file formats called rblocks. These allow rail industry participants to securely exchange bill of lading subsets, as well as settle freight, repair, and lease costs using smart contract technology.

"With our ongoing efforts to enhance the scope of our RAILChain project, we value an organization like BiTA to provide focus on developing blockchain standards for all," said Steve Bourque, president of Bourque Logistics. "BiTA's role is also important in prompting an understanding of the opportunities and realization of value through this new promising technology."

Bourque believes that BiTA will provide a much wider forum to speed the adoption of blockchain standards that will hasten real returns via distributed, peer-to-peer data exchange.

"A discussion on how rail enterprise systems integrate via the blockchain is also important," he continued.

With an initial proof of concept (PoC) for RAILChain slated for the summer 2018, any blockchain standards discussion and ideas arising from the BiTA forum will be integrated into the project. Bourque customers will have the opportunity to be the early PoC participants to evaluate value and set priorities using the blockchain.

The RAILChain project builds upon previous design elements of NaviChain™, a blockchain network being designed for international, intermodal chemical shipments by Tank and Container Management Systems, LLC (TCMS), a partner of Bourque Logistics.