The logistics giant is actively testing ways to use blockchain to track high-cost, mission-critical cargo. In a growing trend of companies researching blockchain tech for business uses, FedEx joins the joins others like Samsung in supply chain applications.
According to a Bloomberg interview with the CEO,
“We’re quite confident that it has big, big implications in supply chain, transportation and logistics,” Chief Executive Officer Fred Smith said at a blockchain conference in New York on Monday. “It’s the next frontier that’s going to completely change worldwide supply chains.”
The main draw is the concept of the permanent, immutable ledger. When shipments stretch across the world in ever-globalizing economies, the ledger can provide important transparency with a single record that all parties agree on. This would ease the headaches with disputes that range from postage to payments and receipt of packages. Unique cases for blockchain ledgers are cropping up with increasing adoption, like CCN’s report on its application for new GDPR regulations.
Blockchain technology testing is part of FedEx Corp’s efforts for improving customer service and staying one step ahead of the disruptive competition, according to Smith. The company has teamed up with the Blockchain in Transport Alliance…