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FedEx Sees Blockchain as ‘Next Frontier’ For Logistics

Convinced that blockchain is getting ready to reworking the package-delivery trade, FedEx is testing the technology to track large, higher-value cargo. From a document: “We’re quite confident that it has big, big implications in supply chain, transportation and logistics,” Chief Executive Officer Fred Smith stated at a blockchain convention in New York. “It’s the next frontier that’s going to completely change worldwide supply chains.” Blockchain makes use of pc code to document each and every step of a transaction and transport in an enduring virtual ledger, offering transparency. The ledger cannot be modified until all concerned agree, lowering commonplace disputes over problems like time stamps, bills and damages. FedEx’s hobby in blockchain and the Internet of Things are a part of the corporate’s method to support customer support and fend off pageant, Smith stated.

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