FedEx Plans to Integrate Blockchain Technology as Part of its Innovation Program
Mail and delivery service provider FedEx plans to adopt Blockchain technology as part of its innovation program to improve its information technology infrastructure. The technology will also help the company in improving its services, as well as reduced costs, and provide faster service and additional transparency to its customers.
The program was proposed following the high-profile cyberattack that hit FedEx subsidiary TNT Express’ branch in Europe last summer. The attack has prompted the company to aggressively pursue its efforts to improve its security and reliability, as well as to expedite the integration of its technology platforms.
According to FedEx chief information officer (CIO), Robert Carter, their efforts to improve security, reliability, and technology integration have been successful. He added that they are now working at integrating TNT’s systems to that of FedEx’s.
“On the heels of the cyberattack, we’ve become much more aggressive about improving the security posture, reliability and speeding up the integration of the technology platforms. We’ve been successful on all three fronts. We’re going very aggressively at moving the TNT enterprise to the more stable and reliable FedEx systems.”
According to Carter, their innovation plan includes the inclusion of Blockchain into their operations. He claimed that Blockchain provides an opportunity to improve the custodial control and chain of control for their supply chain shipments.
He further added that the technology can also be used to improve their existing global settlement and payment systems.
Carter also announced that they will be prioritizing the beta testing of proposed Blockchain solutions, as well as additional research technology going forward. FedEx also plans to use autonomous vehicles for package delivery.
FedEx is currently a member of the Blockchain in Transportation Alliance (BiTA), as well as the Blockchain Research Institute (BRI).