FedEx Joined Blockchain Consortium

February 1, 2018

FedEx, one of the world leading shipping companies, starts integrating Blockchain platforms into daily activities having joined BiTA group (Blockchain in Transport Alliance).

As Freightwaves trucking news provider reports, within the frame of this consortium the company has already proceeded to elaborating production standards for Blockchain with testing of some Blockchain platforms already begun.

FedEx has launched pilot program on using Blockchain for storing conflict resolution data, as the company’s vice-president for strategic planning and analysis Dale Chrystie claimed. The project is designed to define which data exactly is necessary in anytime access for facilitating conflict settlement between clients. What is more, FedEx is aimed at using Blockchain to store its accounting records.

“We have millions of records a day in our system, and we think of blockchain as a secure chain of custody that could transform the logistics industry. We believe it holds a lot of promise in that space and would streamline all that data exchange in a very secure way”, Chrystie noted.

Vice president of IT Kevin Humphries said in his turn, the technology is to simplify parcel tracking. Although the number of ways the company may use Blockchain is quite small, Humphries expressed his hope for it to grow as time goes on.

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