By
Ibukun Ogundare
March 17th, 2023
Global shopping giant FedEx follows the lead of blockchain-friendly business enterprises as the company became one of the 14 newest members to join the open-source blockchain consortium. .
After careful consideration one could easily define FedEx as a multimodal company. Apart from being the world-know provider of high-level courier services, American company also takes up a major role of the blockchain guide into the industry of transportation and logistics.
FedEx is familiar with breakthrough potential of the cutting edge technology and it is willing to pave a way for blockchain-backed supply chains and distributed shipping records that is said to disrupt the traditional approach to transportation business.
So far the company has been noticed as a member of several blockchain-related consortia including the Blockchain in Transport Alliance and the Blockchain Research Institute.Today FedEx gives a trial for an open-source project Hyperledger that operates on the Linux software system.
The Hyperledger association, which is already contains over 250 proactive blockchain adopters including prominent Big Blue, Intel, and J.P. Morgan, enables their members to build blockchain-based industry-grade applications, platforms and hardware systems in the context of their individual business transactions.
Welcoming FedEx as a newly integrated community member, the executive director of Hyperledger, Brian Behlendorf stressed a wide diversity of the project that encompasses both technology giants, industry leaders and start-ups, which share a common believe in the far-reaching future of blockchain technology. He also mentioned an extensive growth Hyperledger is experiencing right now, saing:
“We are gaining traction around the world in market segments from finance to healthcare and government to logistics. This growth and diversity is a signal of the increasing recognition of the strategic value of enterprise blockchain and commitment to the adoption and development of open source frameworks to drive new business models.”
According to the announcement made by the FedEx representatives, the company expects this partnership to boost transparency and security in their shipping services. Currently FedEx is focused on the development of a blockchain-based goods tracker that will give customer a better grasp of the delivery location.
Notably that despite an onslaught of criticism that has been crushing on the technology, the company never shies away from the path of robust blockchain adoption. Delivering a keynote at the Consensus conference held by CoinDesk in May the CEO and Chairman of FedEx, Fred Smith has publicly admitted the enormous potential hidden behind the blockchain, saying this technology has the potential to completely revolutionize what’s across the border.
Then today the FedEx’s senior vice president of IT, Kevin Humphries, commented on the collaboration with Hyperledger, saying:
“We believe that blockchain has big implications in supply chain, transportation and logistics. We are excited for the opportunity to collaborate with the Hyperledger community as we continue to explore the applications and help set the standards for wide-scale blockchain adoption in our industry and others.”
Along with FedEx, Hyperledger has opened a door for the other 13 fintech companies such as BetaBlocks, Blockchain Educators, Cardstack, Constellation Labs, Elemential Labs, Honeywell International Inc., KoreConX, Northstar Venture Technologies, Peer Ledger, Syncsort and Wanchain.
