American delivery services giant FedEx has joined Hyperledger to contribute to blockchain technology development.
American courier delivery services giant FedEx has joined Hyperledger, an open-source project established to improve cross-industry blockchain technologies, according to a press release published September 26.
Hyperledger, which is hosted by the Linux Foundation, enables organizations to build blockchain-based industry-grade applications, platforms and hardware systems in the context of their individual business transactions.
In joining Hyperledger, FedEx has become one of over 270 members. Other member companies include IBM, Intel, Deutsche Boerse, and J.P. Morgan. Kevin Humphries, Senior Vice President, IT, FedEx Services said that blockchain technology has “big implications” for supply chains, logistics, and transportation.
In February, FedEx joined the Blockchain in Transport Alliance (BiTA), a focus group whose members include rail operator BNSF, JD Logistics, and GE transportation. BiTA aims to improve transparency and security in shipping with blockchain tech.
Hyperledger Executive Director Brian Behlendorf has previously stated that distributed ledger technology (DLT) will diminish the power of tech giants like Google, Facebook, and Amazon. In today’s press release he said:
"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."
FedEx has demonstrated a proactive approach to adopting blockchain technology. In May, FedEx CEO Fred Smith said he believes that blockchain is the “next frontier” for global supply chains. In July, the FedEx Institute of Technology partnered with pharmacy services company Good Shepherd Pharmacy to develop new blockchain-powered infrastructure to help cancer patients get medications.