FedEx takes the next step to use blockchain based logistics plan

Blockchain technology is pretty useful for most of the companies in the logistics as well as transport sector. In continuing with this trend, FedEx has recently decided that it would use a blockchain based platform in order to deliver the shipments to their recipients. It stated that it would be joining the blockchain in transport alliance.
According to a report in one of the news organizations, FedEx is not only joining the alliance but is also developing a standard platform which most of the companies in the alliance can use. The company is currently testing its platform in order to make sure that it is foolproof.
Pilot program:
The company has already launched a pilot program in order to store the data as well as to provide the customers with a redressal mechanism in case, their shipment is not delivered or there is some other problem with their shipment. The pilot program is trying to utilize the data which is available in order to provide a seamless experience for the customers. According to the VP of strategy planning and analysis department at FedEx, Dale Chrystie, the amount of data which they handle is enormous. The company is trying to use blockchain in order to transform the entire logistics industry. The company aims to make data exchange much more secure and transparent so that customers are able to get their shipments delivered quite quickly.
The usage of blockchain in logistics, as well as other industries, is increasing significantly. This is one of the main reasons why more and more companies are taking note of this technology. With the increased usage of this technology, companies all over the world would be able to easily create a transparent system with a decentralized ledger system which would minimize their operating costs. Moreover, since blockchain ensures real-time verification of data, it would be easier for the companies to provide better services to the customers.
With the help of blockchain utilization, companies would be able to significantly reduce their IT infrastructure cost. Currently, companies need to invest heavily in hardware. With the help of decentralized systems, they would no longer need to do so. This would ensure that they are able to add that revenue to their bottom line or they are able to provide better services to their customers as well which would help them in gaining more market share. It is inevitable for companies in different industries to avoid blockchain technology due to these advantages.

David is passionate about learning cryptography, tech and the Internet. He has years of experience working at international investment projects. Growing interested in Blockchain and cryptocurrencies in late 2015, he joined Smartereum as an editor.


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