As you probably know, FedEx is one of the companies that are active when it comes to the blockchain. The company moved forward with blockchain plans a couple of months ago – but is now officially putting the technology to a test.
The logistics giant is testing all the ways to use blockchain in order to track the high-cost, mission-critical cargo. In times when more and more companies are adopting blockchain, FedEx is apparently joining the list.
In an interview on Bloomberg, the FedEx CEO Fred Smith stated:
“We’re quite confident that it has big, big implications in supply chain, transportation and logistics. It’s the next frontier that’s going to completely change worldwide supply chains.”
Currently, the main draw is the concept of the permanent and immutable ledger. When the shipments stretch across the world in this infrastructure, this ledger can be the one providing transparency with a single record that all the parties will agree on.
There are many unique cases for such blockchain ledgers. However, the main reason why FedEx decided to adopt this technology is the customer service, which they want to improve and make one step ahead of the competition, according to the CEO Fred Smith.
FedEx has teamed up with the Blockchain in Transport Alliance, stating its mission:
BiTA was formed by experienced tech and transportation executives to create a forum for the development of blockchain standards and education for the freight industry. Our goal is to bring together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology.
Thousands of companies have applied for membership.
The testing will also include ironing out the standards in the industry and disrupting the potential opportunities of cargo shipments worldwide. According to some reports, it is estimated that blockchain applications will represent 10% of the global GDP in the future – which is why FedEx is tapping into it early.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
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- Russia Is Not Planning To Buy $10 Billion In Bitcoin
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- $1 Billion In Transactions Reported For 2018 By BitPay
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