FedEx joins Blockchain in Transport Alliance (BiTA) to start efforts in integration of blockchain-based platforms in its daily operations. It has developed a set of industry standards for blockchain usage as part of the BiTA. The company, which joined the organization as a founding member, has already begun testing some blockchain platforms.
FedEx is a part of BiTA's standards board and it has launched a pilot program using blockchain to store data for dispute resolution by establishing the needed data for ledger.
FedEx senior vice president of IT Kevin Humphries has indicated that the company wants to use blockchain to store its 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."
Blockchain platforms will allow customers to track packages more efficiently, not only while they are in FedEx's possession but also before and after the corporation picks them up.
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