A press release, on the 26th of September shared the news of an exciting collaboration between FedEx and Hyperledger, which is an open-source blockchain project that wishes to transform the face of cross-industry blockchain technologies. Hosted on Linux foundation, Hyperledger provides support to various organizations who wish to develop new applications based on blockchain technology.
Hyperledger has also helped organizations develop indstustry level platforms and also complete hardware systems which would provide a much needed boost to business transactions. With a collaboration figure that touches 270, Hyperledger boasts names like Intel, JPMorgan, IBM, Deutsche Boerse, among others. FedEx can now proudly claim to be a part of this incredible team.
The senior vice president of FedEx Services’, Kevin Humphries, has made it clear that blockchain technology has a wide range of applications and this tie up has large scale implications for the technology.
Blockchain has already begun transforming the logistics and supply industry with all the added advantages that it offers. Transparency, tracking of products from origin to delivery are just few of these advantages along with many more.
The executive director of Hyperledger, Brian Behlendorf, has already predicted that the world of business could gain a lot from the infusion of DLT (Distributed Ledger Technology) in it. In a bold move, he also made an assumption that companies like Amazon, Facebook, and even Google would lose much of their power because of this technology.
FedEx seems on board with the idea of blockchain technology revolutionizing the entire supply chain and logistics industry. It is for us to see how they go about facilitating this transformation.