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Blockchain Technology can revolutionize the worldwide supply chains says FedX CEO

Aman Swami



Blockchain Technology can revolutionize the worldwide supply chains says FedX CEO, Fred Smith
Source: Pixabay

FedEx Corp. is testing the technology to track large, higher-value cargo as they are convinced that blockchain is on the brink of transforming the package-delivery business.

FedEx is committed to making a difference to its clients and clients’ businesses. Their trained shipping experts can help their clients save time and money with local knowledge on a global scale. They do not only deliver packages but deliver business solutions.

Chief Executive Officer, Fred Smith, said at a blockchain conference in New York on Monday:

“We’re quite confident that it has big, big implications in the supply chain, transportation, and logistics. I believe it’s the upcoming 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. Making changes in the ledger is not possible unless all are 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.

FedEx started the project with an organization called the Blockchain in Transport Alliance that is attempting to set industry standards for using the technology in transportation. Blockchain has the potential to lower transaction costs, speed up processes and free up working capital, according to the alliance.

Chief Information Officer Robert Carter said at the conference:

“We are also experimenting with Tron, a small Bluetooth-based, low-energy tracking sensor in addition to blockchain.”

The company has taken out more patents on Tron than any other technology in the company’s history.

The CEO concluded:

“Unless a company embraces new technologies such as blockchain, it will probably face extinction, at some point in time.”

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Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.


Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development

Akash Anand



Tron CEO claims stablecoins will be the key focal point for cryptocurrency development
Source: Pixabay

The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.

Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,

“Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”

Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,

“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”

The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,

“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”

This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.

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