FedEx joins Hyperledger to help push logistics efficiency

FedEx the global shipping giant has joined the Hyperledger consortium, making it one of the 14 newest members to join.

FedEx has hitherto been known to be a proactive adopter of blockchain technology. By joining the Linux hosted open-source project dubbed Hyperledger, it hopes to increase its own logistics efficiency.

Hyperledger is a revolutionary platform started in 2015 by the Linux Foundation, which focuses on enabling member organisations to build blockchain-based and industry-grade applications, hardware systems and platforms to facilitate business transactions.

A well-rounded consortium

Alongside FedEx, Honewell International and other notable cryptocurrency start-ups were the latest entrants to have joined the Hyperledger consortium in its mission to create blockchain platforms and applications that will be of benefit to enterprises. Brian Behledorf, the Executive Director of Hyperledger, was quick to note that the group involves both established brands and start-ups:

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.

FedEx’s history

FedEx is not new to blockchain-related partnerships. It has previously joined other blockchain consortiums, such as the Blockchain Research Institute and Blockchain in Transport Alliance. Fred Smith, FedEx’s CEO and chairman had some words to say on the announcement:

We want to work on developing common standards around blockchain technology in the transportation industry, and we continually try to enhance the customer’s experience, and blockchain is tied to that.

Smith has been very vocal about the utility of blockchain technology in the past. A case in point being his statements made in the Coindesk consensus conference held in May, where he noted that blockchain has the potential to bring in a new revolution. He noted how beneficial it is that the fact that a good’s chain of custody can be tracked in real time, with such information being publicly available.

Nicholas

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Nicholas is Nicholas is a prolific technology writer and cryptocurrency enthusiast. He has been writing professionally for the last 6 years, especially on emerging technology. His current focus is on blockchain technology and cryptocurrency. He has been working with several local and international clients over the years to produce dependable, well researched and updated industry content. He loves travelling and spending time with family in his free time.

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