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FedEx CEO: Companies need to adopt blockchain technologies or prepare for extinction

Fred Smith once again noted the importance of blockchain technologies for "ensuring a bright future for the company in an ever-changing digital world."

15.May.18 10:43 AM
By Tatyana Kisarova


FedEx CEO: Companies need to adopt blockchain technologies or prepare for extinction
The news portal reports concerning CoinDesk that at the Symposium Consensus 2018, which is currently being held in New York, the head of the largest US logistics company FedEx, Fred Smith, spoke about the enormous importance of using blockchain technologies in the economy, in particular, in the field of logistics.

According to the director of the company, at the moment one of the most global problems in the logistics sphere is a large number of legal obstacles that accompany cross-border transportation. The reason for this is the lack of common standards, rules, and terminology in international logistics because in each country has traditionally developed its transportation procedures.

Fred Smith emphasizes that the key to the profitability of any international transportation is trust between the participants in transactions, they can only be provided with the use of blocking technology. It guarantees that each participant in the logistics relationship can quickly obtain the most accurate and truthful information. In modern conditions of fierce competition, any company should strive to use advanced technologies in order not only to stay afloat but also to be profitable and successful.

For this purpose, in the winter, FedEx, within the Blockchain in Transportation Alliance (BiTA), began cooperating with other corporations in the study of innovative blockchain solutions that could be further implemented.

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