FedEx CIO, Rob Carter, believes that mandated blockchain standards for international shipping will lead to widespread adoption within the industry. This would also enable authorities to better track goods’ provenance, and help combat the trafficking of counterfeit or illegal goods.
Digitizing The Paper Trail
Carter was speaking during a panel discussion at the Blockchain Global Revolution Conference. Moving a package internationally requires an awful lot of documentation, he explained, some of which can be as important as the package itself.
While this was traditionally paper-based, even digitized documentation transfers occur via 60-year-old technology, with no real-time data. The industry-wide adoption of a standardized blockchain could provide a global solution, and a level playing field, away from proprietary systems. Said Carter:
We’re not an organization that pushes for more regulatory control, but there are times regulatory mandates and pushes can be incredibly helpful.
Working Together To Define Standards