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FedEx Partnerships with HyperLedger, Big Implications for Logistics and Supply Chain

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According to a recent press release published on PRNewswire, FedEx, the American courier delivery service provider joins hands with the Hyperledger Blockchain Hub, an open source project which focuses on developing cross-industry blockchain technologies.

Hyperledger helps organizations to build blockchain-based industry grade applications, platforms & hardware systems based on their business transactions. By partnering with Hyperledger, FedEx joined the 270 company members group. Few companies which have already partnered with Hyperledger are Intel, Deutsche Boerse, JP Morgan, IBM etc. The Senior Vice President of Information Technology Department of FedEx services, Kevin Humphries commented that blockchain technology has bigger implications for logistics, supply chains, and transportation industries.

Few companies which have already partnered with Hyperledger are Intel, Deutsche Boerse, JP Morgan, IBM etc.

Last February, FedEx had become a part of the Blockchain in Transport Alliance (BiTA). This group focuses on bringing together all the leading freight companies which have an interest in implementing blockchain technology to improve transparency and security in the shipping industry. Among the members of BiTA are JD Logistics, GE transportation, BNSF, Wipro, Evans, Lotte, Chainworks, Unigroup, Cisco, HP, HCL, FleetPal etc.

Brian Behlendorf, the Executive Director of Hyperledger commented that this Distributed Ledger Technology (DLT) will affect the growth of companies like Google, Facebook, Amazon etc. In addition to this, he also said the following in recent press release: "We are gaining traction around the world in market segments from finance to healthcare and government to logistics. This growth and diversity is a signal of the increasing recognition of the strategic value of enterprise blockchain and commitment to the adoption and development of open source frameworks to drive new business models."

Brian Behlendorf, the Executive Director of Hyperledger commented that, "We are gaining traction around the world in market segments from finance to healthcare and government to logistics. This growth and diversity is a signal of the increasing recognition of the strategic value of enterprise blockchain and commitment to the adoption and development of open source frameworks to drive new business models."

Previously, FedEx has shown its interest in adopting blockchain technology several times. In May this year, Fred Smith, the CEO of FedEx said that he believes that blockchain technology will act as the next frontier for the global supply chains. The FedEx Institute of Technology partnered with Good Shepherd Pharmacy to create a blockchain powered infrastructure to help cancer patients get their medications easily.

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