CP links with blockchain

Article Excerpt

CANADIAN PACIFIC RAILWAY $409.94, is a buy. The company (Toronto symbol CP; shares outstanding: 134.5 million; Market cap: $56.7 billion; Rating: Above Average; Dividend yield: 0.9%) has formally joined TradeLens, a blockchain-based collaboration between IBM and Danish global shipping giant Maersk. Blockchain is typically associated with Bitcoin. But blockchains themselves are decentralized databases, shared across all contributing users, that record transactions and track the transfer of assets. TradeLens will let shippers with CP create and share documents with other supply chain participants, including buyers, cargo owners, customs agencies, truck operators and steamship lines. All this will provide more transparency and boost CP’s attractiveness as a shipper. CP Rail is a buy. buy…