FedEx plans to optimize logistics using the blockchain

FedEx plans to optimize logistics using the blockchain

International transportation company FedEx freight worldwide, started cooperation with the transport blockchain Blockchain Union in Transport Alliance (BiTA). The organization seeks to implement technologies of distributed registries.

Freightwaves news organization, covering issues of transportation, said that FedEx has begun to develop a set of standards for the use of the blockchain in the industry through participation in BiTA. The company has joined the Alliance as a founding member and started to test some of the platform on the blockchain.

Now FedEx is on the Board of Directors of BiTA. Vice President, strategic planning and analysis FedEx Dale Christie announced that the company has launched a pilot project on the blockchain for data storage. It is planned to establish what data are required for permanent registry, which will later be used in the resolution of disputes between clients sending and receiving goods via FedEx.

A company representative added that the blockchain will be used for storage of company records:

“Every day in our system are millions of records, and we believe the blockchain as a secure supply chain will transform the industry of logistics. We believe that the use of the blockchain will provide us with new perspectives and will help to streamline the data exchange more secure way.”

Senior Vice President of information technology Kevin Humphries adheres to similar opinion. He said Freightwaves that the blockchain platform will allow customers to more effectively track the parcel, and not only in the period of time when they engaged in FedEx, but before and after they take the company.

While FedEx has allocated only a few possible ways to use technology, but Humphries “hopes that the blockchain there are many variants of application”.

Earlier, transport blockchain Union BiTA joined an international transportation company Penske Logistics. The organization intends to encourage the development of blockchain technology in the industry, creating applications for supply chain and logistics processes, as well as asset tracking and transaction logs. In addition to Penske and other companies in the Alliance include United Parcel Service. Last year, UPS announced that it plans to join the development of standards for blockchain-based platforms and advise on the use of technology to facilitate payments.

News tags
Let's Disqus