FedEx adheres to the open source blockchain initiative

Dive Brief:

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

• Members of Hyperledger have access to "core frameworks and open source distributed enterprise code bases "and include finance players, banks, the Internet of Things (IoT), supply chains and production chains.

• "We believe the blockchain has major supply chain, transportation and logistics implications," said Kevin Humphries, Senior Vice President, IT, FedEx Services.

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 is not yet clear what FedEx is trying to do with Hyperledger technology, but the company has said in the past that it is conducting blockchain pilots and the possibilities of blockchain technology in the supply chain are now well recognized by its major players.

Both FedEx and UPS are part of the Blockchain in the Transport Alliance. UPS applied for a patent last month to use blockchain technology to plan package paths and track them globally, as they are managed by multiple carriers. FedEx released the idea of ​​using distributed ledger technology to store records and keep track of packages.