Bloomberg
according toBloombergAccording to the report, at the 2018 Annual Consensus Conference held by Coindesk, Fred Smith, Chairman and CEO of FedEx, an American logistics giant, emphasized the important value of blockchain technology, believing that it will be a future cutting-edge technology that will change the global supply chain system.
According to the report, at the 2018 Annual Consensus Conference held by Coindesk, Fred Smith, Chairman and CEO of FedEx, an American logistics giant, emphasized the important value of blockchain technology, believing that it will be a future cutting-edge technology that will change the global supply chain system.
Blockchain technology records every step of transaction and transmission data in a permanent distributed ledger through computer code, ensuring the transparency of information. This distributed ledger cannot be changed unless all parties involved agree to it. This will reduce common disputes in traditional logistics processes such as time stamps, payment fees, and damaged goods.
At Consensus, Fred Smith argued that,
Unless the company adopts new technologies such as blockchain, it will be in danger of becoming extinct to some extent.
Smith also stated,
Investment in the blockchain and the Internet of Things is one of FedExs strategic means to improve customer service and resist external competition.UPSIn February of this year, FedEx joined the Blockchain in Transport Alliance (BiTA) and is testing the use of blockchain technology to track the transportation of large, high-value goods. Joining the BiTA organization is another transport giant
, the organization is currently developing industry standards and exploring the use of blockchain technology to track shipments and manage logistics.
FedEx CIO Robert Carter revealed that FedEx is also experimenting with Tron, a small Bluetooth low energy tracking sensor. The number of patents obtained for the research and development of the sensor Tron is higher than any project in the history of FedEx.
FedEx has launched a pilot project that uses blockchain to resolve disputes over stored data, said Dale Chrystie, vice president of strategic planning and analysis at FedEx previously. and customer disputes in the process of receiving express delivery.”The combination of blockchain technology and giants with mature logistics systems will have a great impact on the transportation industry, or it will greatly reduce logistics costs, speed up logistics and greatly reduce operating funds.
According to Morgan Stanley analysis, this will be an opportunity with a market value of more than $500 billion.
In addition to FedEx, IBM and Danish shipping giant Maersk (Maersk) have established a joint venture to create a digital global trade platform and improve the management efficiency of its supply chain through blockchain technology. The joint venture, which completed its first blockchain test in March this year, aims to simplify traditional shipping methods.
Domestic logistics companies are also using blockchain technology to upgrade traditional businesses. On April 1, COSCO SHIPPING announced that it will cooperate with JD.com and Goodfarmer to use blockchain technology to transport agricultural products from Ecuador to China, and the whole transportation data can be traced. This is the first commercial application of blockchain technology in the international maritime container transportation industry.Not only COSCO SHIPPING,Ali, Jingdong
And other e-commerce platforms are also exploring the experiment of blockchain technology in logistics and transportation.
