Connect with us


FedEx CIO Believes Blockchain Will Become “Essential” for Businesses

Saad Ullah



U.S. mailing giant, FedEx’s Chief Information Officer (CIO), has voiced his opinion in which he says blockchain adoption is something firms cannot ignore as it will become “inevitable and essential”.

Blockchain Everywhere

Rob Carter, the CIO of FedEx, is a strong proponent of blockchain technology, especially in the transportation sector. He firmly believes that the decentralized technology can have a significant impact in reducing delays and increasing authenticity in any organization. The military grade like encryption means that data is very difficult to fake or duplicate, serving as the perfect tagging tool of products and materials for tracking and tractability.

His vision is also shared by the research firm Gartner Inc. The firm believes that the technology will be nearly used by a significant number of firms in four years, accounting for USD 2 trillion worth of goods and services being tracked. Carter, on the other hand, says that this is only possible if stakeholders can sit down and come to agreement on certain regulations. If no regulations are met, there will be different types of blockchain ecosystems, each with its own set of rules and totally ungoverned. Legality would become a complexity, such as data stored on blockchain being admissible in a court of law (a customer filing a complaint in a consumer court, for example).

Rivals and Regulations

Rival DHL Express also shares the potential of blockchain in freight business, with Eugene Laney, the international government affairs head at DHL Express USA, saying, “blockchain could help consolidate that data, instead of having multiple, disconnected sources of information, speeding up the process and giving customers a better idea of when deliveries are expected. people could also use blockchain to automatically execute many transfers of packages such as those from airlines to truck carriers, and truck carriers to terminal operators and warehouses.”

The industry is already working on creating a body that would work on the standardization and regularity work for blockchain integration, like the Blockchain in Transport Alliance, which currently consists of nearly 500 members, including FedEx and another rival United Parcel Service. UPS has already announced a B2B marketplace that will be based on blockchain.

Carter also says that the technology has benefits even beyond the mail transportation system, such as aerospace, automotive and even healthcare.

Continue Reading
Advertisement Buy Women Dresses
Cryptocurrency5 days ago

The Path to Crypto Trading Starts With Knowledge: A Brief Guide to Crypto Trading

Markets6 days ago

By 2025, Wearable Artificial Intelligence (AI) Market to see 30%+ growth to hit US$180 billion

Blockchain2 weeks ago

Starbucks Uses Microsoft Azure Blockchain for Transparent Coffee Sourcing

Blockchain2 weeks ago

PepsiCo Trials Blockchain Advertisment, Boosts Supply Chain Efficiency by 28%

Blockchain2 weeks ago

IBM Helps Netherland Against Bicycle Theft Through Blockchain

Blockchain2 weeks ago

Satoshi Nakamoto Live Unveiling on 14th May? This Site Says So

Blockchain2 weeks ago

Facebook Seeks USD 1 Billion in Investments for its Stable Coin, Talks With Visa, MasterCard

Blockchain2 weeks ago

New Washington State Bill Recognizes Legality of Blockchain Data

Blockchain2 weeks ago

FedEx CIO Believes Blockchain Will Become “Essential” for Businesses

Blockchain3 weeks ago

HTC Will Launch Blockchain Smart Phone Exodus’ Successor This Year

Blockchain3 weeks ago

Jaguar Land Rover to Reward Car Owners With Iota for Data Sharing

Blockchain3 weeks ago

Japanese Premiere Wants a Cryptocurrency Governance Manual

Banking3 weeks ago

JPMorgan Flexes its Blockchain Wings As It Plans to Widen Use of IIN

Banking3 weeks ago

Cross Border Payments Through Ripple By Saudi British Bank (SABB)

Blockchain3 weeks ago

Philip Morris Wants to Use Blockchain for Validating Tax Stamps

Blockchain3 weeks ago

Nike Files Patent for Term “Cryptokicks” in U.S.

Blockchain3 weeks ago

Brazilian Confectionery Firm Roma Wins Patent for Bitcoin, Will Manufacture Chocolate Coins

Trading News3 weeks ago

Disney Interested in Buying Nexon, Might End Up Owning Bitstamp and Korbit Exchanges

Blockchain4 weeks ago

Anonymous Source Says Samsung Building Own Blockchian, Samsung Coin

Banking4 weeks ago

French Societe Generale Group Issued $112 million Worth Cover Bonds on Ethereum Blockchain

Like us on Facebook

The Trending Posts

Pin It on Pinterest

Share This