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FedEx's Smith Sees Blockchain as `Next Frontier' for Logistics
May 14, 2018
 

Convinced that blockchain is on the brink of transforming the package-delivery business, FedEx Corp. is testing the technology to track large, higher-value cargo. “We’re quite confident that it has big, big implications in supply chain, transportation and logistics,” Chief Executive Officer Fred Smith said at a blockchain conference in New York on Monday. “It’s the next frontier that’s going to completely change worldwide supply chains.”

Blockchain uses computer code to record every step of a transaction and delivery in a permanent digital ledger, providing transparency. The ledger can’t be changed unless all involved agree, reducing common disputes over issues like time stamps, payments and damages.

Source: Bloomberg (https://www.bloomberg.com/news/articles/2018-05-14/fedex-s-smith-sees-blockchain-as-next-frontier-for-logistics)

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