FedEx joins open source blockchain initiative

Dive Brief:

  • FedEx has joined open source blockchain initiative Hyperledger, which is designed to help industries build their own blockchain applications, according to a statement.

  • Hyperledger’s members have access to “enterprise-grade, open source distributed ledger frameworks and code bases” and include players from finance, banking, internet of things (IoT), supply chains and manufacturing.

  • “We believe that blockchain has big implications in supply chain, transportation and logistics,” Kevin Humphries, Senior Vice President, IT, FedEx Services, said in a statement.

Dive Insight:

The blockchain “collaborative” added 14 new members to its more than 250 existing members, including Honeywell International. Existing members include Accenture, Airbus, Daimler, IBM and SAP.

It’s yet unclear what FedEx is looking to do with Hyperledger’s technology, but the company has said in the past it is conducting blockchain pilots, and the possibilities of blockchain technology in the supply chain are at this point well-recognized by its major players.

Both FedEx and UPS are members of the Blockchain in Transport Alliance. UPS applied for a patentlast month to use blockchain technology to plan package routes and track them globally, as they are handled by multiple carriers. FedEx has floated the idea of using the distributed ledger technology to store records and track packages.

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