Connect with us

Blockchain News

FedEx Started Testing Its Blockchain Tech Aimed At Critical Cargo Shipments

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.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments
Advertisement

Blockchain News

Delivery Giant UPS Looks Forward To Blockchain For Streamlining Its Logistics

UPS, which is among the oldest companies in the delivery business, has been through a lot of changes over the years. The 110-year old company right now believes that blockchain could be the next chance to streamline its delivery logistics.

The news comes from documents published by the US Patent & Trademark Office (USPTO) in which the Georgia-based delivery giant seems to have applied for a patent that utilizes blockchain and distributed ledger technology (DLT) all in order to route packages throughout an international supply chain.

The blockchain system will also help the packages which include multiple carriers. Originally filed on February 16th, this patent is believed to increase efficiency and minimize costs for UPS – especially when it comes to coordinating logistics for shipments that involve more than one service provider.

As the authors of the application explained:

“[T]here may be scenarios in which it is advantageous for various logistics service providers to transport the shipment unit along different legs/segments from its origin to its destination. However, it may be difficult to coordinate the transportation of the shipment unit through the various logistics service provider transportation networks. Moreover, if there are special handling requirements for transporting the shipment unit, it may be difficult to ensure that the special handling requirements are carried through by each of the various logistics service providers that may assist in transporting the shipment unit.”

Right now, UPS plans to tackle the problems with an autonomous system that will use an immutable blockchain ledger to route packages through multiple logistics service provider networks.

That way, the system will select routes for automatically-scanned packages (ready for delivery) – all based on the service offerings of the network-connected shipping providers.

“Accordingly, various embodiments may comprise and/or utilize digital currency/assets represented by ledger entries. Such digital currency/assets (e.g., Bitcoin, Ether, and/or the like) may itself have value that may be exchanged for various shipment units, services, and/or the like.”

With this, UPS believes that it can integrate its system, reduce the costs and increase efficiency as they fulfill the obligations with a particular leg on each shipment.

Share This With Your Friends
Continue Reading

Bitcoin News

Pantera Capital CEO: ‘If Bitcoin Is Rat Poison, Banks Are The Rats’

Pantera Capital, which is one of the leading investment firms in the crypto space, seems to have an optimistic look at cryptocurrencies despite the current market downturn.

As the CEO and chief investment officer at the firm Dan Morehead stated during a digital asset funds conference this Tuesday, blockchains are the next step in the evolution of equity. In that way, cryptocurrencies are a superior form of currency.

Morehead also called Bitcoin “the biggest disruption of this generation”. As a well-known optimist who stated that the combined crypto market cap could climb to $40 trillion one day, he also pointed out some statements towards the regulation and adoption of cryptocurrencies by banks.

He addressed his thoughts in the same way as Warren Buffett did earlier this year, noting the ‘rat poison squared’ rumor about Bitcoin, stating:

“It is rat poison; it’s just the banks and credit card companies are the rats.”

When asked if now is a good time to buy crypto, Morehead stated:

“That’s actually a good time to increase your position. It is highly likely to be the low point for the industry. My normal view is that it is going to return to its trend”

Morehead remains positive and optimistic about the long-term scenario of blockchain technology and cryptocurrency. As he said, blockchains are the “final piece” of the protocol structure that describes the Internet – and a way to move funds without paying high fees.

Bitcoin, according to him, is not a category killer but a “serial killer” which means that it will affect many different use cases.

“I think we’re heading towards a post-capitalist era. Now, we’re going to have ‘cooperatively owned’ technologies that are very valuable.” Morehead concluded.

 

Share This With Your Friends
Continue Reading

Blockchain News

Ethereum-Backed Platform Plans To Invest $5 Million In Blockchain Gaming Startup

Decentraland is a new decentralized user-owned virtual world built on the Ethereum blockchain which is now planning to invest $5 in order to fund blockchain gaming projects on the Decentraland platform.

So far, Decentraland created the Genesis Content Program which allows developers to submit proposals for “blockchain games” as well as “interactive experiences” built within the platform.

The new plans were first outlined in an article that the company published on Medium, where it said that it plans to “welcome larger and more ambitious projects” to the platform. According to Decentraland, the new program will encourage “innovation and growth in decentralized online gaming” in addition to the $5 million in project financing which will be shared among the top applicants.

Game developers will see a massive benefit here, as they are presented with a new interactive opportunity to design their “virtual experiences” through blockchain-based games. They can provide these experiences on the platform while monetizing them with tokens.

LAND is the new innovation which is basically a virtual place of property that players can purchase through the Decentraland Marketplace. Here, game developers will need to develop their games to “fit the parcel boundaries” of the LAND, making room for more games that will be remotely accessed within the virtual platform (city) and its LAND parcels.

Share This With Your Friends
Continue Reading

Blockchain News

IBM Just Filed A Patent For A Blockchain Database System

One of the biggest industry giants and tech disruptors, IBM, has recently filed a new patent that focuses on certain parts of blockchain technology.

According to one published document, the patent is named “Managing a Database Management System using a Blockchain Database” and fully explains IBM’s intention to build a reliable database tempering detection system (IDT-DS). The system would detect inconsistencies in a set of data stored in a central database which concerns a copy of the same data stored on a blockchain database.

As the patent read:

“Aspects of the disclosure include a method, system, and computer program product for managing a database management system (DBMS). A central database to include a set of central data may be structured with respect to the DBMS. A blockchain database which is linked with the central database may be constructed with respect to the DBMS. A set of blockchain data may be established in the blockchain database corresponding to the set of central data of the central database.”

The system will work in a simple way. In order for it to be accessed, there needs to be an access request to the DBMS. In response to it, both the central database and the blockchain database would be maintained.

First filed in December 2017, this patent got refreshed right now – again proving the mutual interest that IBM has towards blockchain – just like the US Patent and Trademark Office (USPTO), which has so far awarded six distributed ledger-related patents in 2018.

With this, IBM has confirmed the giant corporations’ race to patent blockchain – and begun the next big battle among corporations for the upcoming technological revolution which is brought by the blockchain.

Share This With Your Friends
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below








Join us on Facebook

Recent Posts



UPCOMING EVENTS RECOMMEND BY DC FORECASTS

august, 2018

Filter Events

No Events

NEWS CATEGORIES



Trending Worldwide

X
X