FedEx Joins Hyperledger’s Blockchain Hub to Advance Widescale Adoption
A new press release published yesterday claims that FedEx, the U.S.-based courier delivery service has just joined Hyperledger.
FedEx Becomes Hyperledger’s New Partner
According to the press release, FedEx has just partnered up with Hyperledger, an open-source blockchain project that aims to revolutionize cross-industry blockchain technologies. Hyperledger is hosted by the Linux Foundation, and its goal is to allow different organizations to create new applications, which would be based on the blockchain technology.
Apart from apps, these organizations would also be capable of making industry-grade platforms, and even entire hardware systems that would improve their business transactions. FedEx’s decision to join the project has made it one of more than 270 members.
These include numerous large companies like Intel, JPMorgan, IBM, Deutsche Boerse, among others. Kevin Humphries, FedEx Services’ senior vice president, commented on the move by stating that there are large implications for the blockchain technology.
Despite the fact that many consider this technology to still be in a state of infancy, it has a lot of potential to reshape logistics, supply chains, transportation, and other aspects of FedEx’s business.
Blockchain Technology — A Way to the Future
This is not the first time that FedEx has made a move that would get it closer to the blockchain tech.
Back in February of this year, the company joined the BiTA (Blockchain in Transport Alliance), which is a group whose members also include some major companies, such as GE transportation, JD Logistics, and BNSF. BiTA’s goal is to implement blockchain technology for the purpose of improving security and transparency in the shipping industry.
Brian Behlendorf, Hyperledger’s executive director, previously stated that the DLT (Distributed Ledger Technology) would bring a lot of changes to the world of business. He even predicted that the use of this technology will reduce the power of companies like Amazon, Facebook, and even Google.
In the new press release, he commented on the growth of this technology’s adoption rate, but also value. He stated that the blockchain technology is gaining traction in numerous industries around the world.
As for FedEx, the company has shown a proactive approach when it comes to adopting blockchain technology. Fred Smith, the company’s CEO, stated earlier this year that he believes that blockchain technology will be the “next frontier” in the world of global supply chains.
Only a few months later, FedEx Institute of Technology entered a new partnership, this time with Good Shepherd Pharmacy. This is a pharmacy services company, and the goal of the partnership is to see the development of new infrastructure. The infrastructure would be based on the blockchain technology, and it would significantly help cancer patients by providing easy access to necessary medication.
Featured image from Shutterstock.
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by Ali Raza on September 28, 2018 at 12:30AM