Shipping Giant Fedex Plans to Create a Blockchain for the Logistics Industry
Fedex, one of the worlds largest logistics companies, has officially joined the Blockchain in Transport Alliance (BiTA for short). As part of this, they are looking into how they can integrate blockchain and blockchain based solutions into their everyday operations. Lets take a look at a few different ways that they are looking to integrate these technologies.
Dispute Resolution
One of the proprietary ways they are looking to use blockchain in the logistics industry is dispute resolution. They are looking to use the blockchain as a public data repository to ease dispute resolution between customers sending and receiving goods. This would ensure a more transparent process of dispute resolution and create ease of access for that data.
Package Tracking
Another proprietary way that Fedex is looking to apply blockchain in the logistics industry is the tracking of packages. The blockchain would allow the tracking of packages even before and after Fedex picks up or drops off packages. This data would also be transparent and allow customers to track packages more quickly and efficiently.
Conclusion
Obviously blockchain has a long way to go in the logistics industry, and these are only a few of the first use cases. The adoption by Fedex is only the beginning, and it is a sign of greater things to come for the use of blockchain in the logistics industry. I, personally, am excited to see more and more businesses across a variety of industries beginning to adopt the use of blockchain in everyday operations.
Isaiah Croatt
Chief Research Officer
CoinLion LLC
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