Blockchain

FedEx Exec Calls for Uniform Blockchain Standards

The chief information officer of American delivery services company FedEx, Rob Carter, has called for uniformity in standards in the blockchain industry; according to tech-focused media outlet Computerworld.

While addressing attendees at the Blockchain Global Revolution conference, the FedEx chief argued that mandated standards would aid a great deal in creating uniformity for blockchain’s use in supply chains. Carter also acknowledged the technology’s ability to improve the tracking of a good’s provenance while also helping to streamline the shipping process.

“There is an incredible amount of information moving with an international package. An incredible amount of paperwork [such as] certificates of origin, and certain commodities require specific licenses. That information moves sometimes in digital forms and sometimes paper forms. As we move toward a more digital world, blockchain is where you piece all that together” he said.

FedEx is a member of the Blockchain in Transport Alliance along with two other major international delivery companies; DHL Express and UPS. Only last September, FedEx joined Hyperledger- an open source project set up to improve cross industry blockchain technologies. The deal between Hyperledger and FedEx will purportedly help the delivery giant to build blockchain-based industry grade applications, hardware systems, and platforms.

In March, UPS and e-commerce technology company inexption jointly rolled out a blockchain powered platform dubbed ‘Inexption Zippy’, which is geared to improve supply chains. The platform purportedly helps merchants monitor the entire supply chain from product listing to delivery. This ensures that sensitive data like contract specific pricing and rates are only accessible to the buyer and seller.

Clearly FedEx executives understand the importance of uniform blockchain standards in the industry. As a member of BiTA (Blockchain in Transport Alliance), FedEx realizes the important role the blockchain is playing and can continue to play in the transportation industry. FedEx as well as other BiTA members are increasingly realizing that the key to realizing successful implementation of the blockchain in the industry is through the setting up of universal standards.

Ken Craig, who is Vice president of Special projects at McLeod Software, which is a BiTA member, had this to say about the impact of blockchain in the transportation industry.

“Blockchain provides another aspect of interoperability and visibility within the supply chain, much like electronic data interchange [EDI], application program interfaces or web services… However, blockchain without its own truly inoperable standards will develop into nothing more than a new process that mimics the difficulties surrounding the use of EDI.”

BiTA members clearly place special weight in the creation of Universal standards since they eliminate the data and administrative inconsistencies that have hurt the industries for eons.

Image Courtesy of Fedex.com

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