FedEx Sees Blockchain as 'Next Frontier' For Logistics (bloomberg.com)

Convinced that blockchain is on the brink of transforming the package-delivery business, FedEx is testing the technology to track large, higher-value cargo. From a report: "We're quite confident that it has big, big implications in supply chain, transportation and logistics," Chief Executive Officer Fred Smith said at a blockchain conference in New York. "It's the next frontier that's going to completely change worldwide supply chains." Blockchain uses computer code to record every step of a transaction and delivery in a permanent digital ledger, providing transparency. The ledger can't be changed unless all involved agree, reducing common disputes over issues like time stamps, payments and damages. FedEx's interest in blockchain and the Internet of Things are part of the company's strategy to improve customer service and fend off competition, Smith said.

Comments

Which blockchain?

[jdavidb]

Blockchain uses computer code to record every step of a transaction and delivery in a permanent digital ledger, providing transparency

Strange - I've been familiar with how blockchain technology works since 2012, and that doesn't sound like blockchain technology to me. Maybe they mean that they have developed some sort of custom enhancement? Couldn't they just record all this in their own database? Being light on specifics it's hard to see how blockchain technology is helping them at all here, unless it's to raise their stock price by throwing around the latest technology buzzwords without knowing what they mean.

Re:So... let's use the entire electircal output...

[Joce640k]

Will blockchain stop them from lying about "We went to your house and you weren't there" whenever they can't meet their 48-hour delivery garantee?

If not then what does this actually help? Are they going to make their ledger public domain and pay tens of thousands of non-Fedex miners to work 24/7 on the signatures to make sure there's too much external computing power for a Fedex employee to be able to falsify any information.

Because if not ... "blockchain" is just another buzzword that a manager is using to get himself a new office.