FedEx, the US-based shipping giant, has joined Hyperledger, an open-source blockchain firm that sports more than 270 affiliates.
A press release regarding the partnership explained that FedEx is looking to “advance cross-industry blockchain technologies”. They will be joining the likes of JPMorgan, Intel, IBM, and other notable names as a member of Hyperledger.
Representatives of FedEx said that they look forward to applying blockchain technology to supply chain transportation, and logistic aspects of their industry and that they will “continue to explore the applications and help set the standards for wide-scale blockchain adoption in our industry and others”.
FedEx previously stated their interest in using the blockchain to improve their supply chains. FedEx’s CEO, Fred Smith, said that blockchain would allow each step of the supply chain to be catalogued and monitored and that the loss or misplacement of packages would likely be mitigated due to this.
In pursuit of this goal, FedEx is not simply stopping with Hyperledger. The shipping firm is also partner to Blockchain Research Institute which works to analyze how blockchain effects business, government, technology, and society as a whole.