Frederick Smith says – Blockchain technology is going to be disruptive and revolutionary

Frederick Smith talks about the importance of Blockchain technology and it’s applications in the transport and trading services. He was one of the major speakers who spoke about Blockchain at the Consensus 2018.

From the 14th to the 16th of May, Consensus 2018, the 4th annual blockchain technology summit took place in Hilton Midtown, New York. The Consensus features more than 250 speakers and 4000 attendees from various industries such as start-ups, Investors, financial institutions, and enterprise tech leaders.

Over the conference, Frederick Smith predicted that the blockchain technology is going to be disruptive and revolutionary.

Frederick W. Smith is the CEO of Federal Express popularly known as Fed-Ex. He is an ex-marine corps and has served in Vietnam. He later started Fed-ex an American multinational courier delivery services company.

Fed-Ex is one of the oldest and quickest courier delivery services. The company was founded in the year 1998. Earlier this year Fed-Ex had made attempts to integrate blockchain with Transport and Alliance [BiTA]. The company had launched a program wherein the data for dispute resolution will be stored on the blockchain.

The blockchain technology incorporated is to reduce the disputes between customers. According to the previous reports, the company is also looking at blockchain as an alternative for storing the company records.

He says:

“Blockchain has the potential to completely revolutionize what’s across the border.”

He further added that the Information about the package is as important as the package itself. He said that tracking is really important as it helps to regulate internal transactions and safeguard information. After the dawn of the internet, they started offering and emphasizing on the tracking factor.

Now after the advent of the blockchain, it has become the new game changer as the new custodial records are pristine and are unalterable. According to him, blockchain will revolutionize the whole transport sector.

A twitterati says:

“I sat through the whole consensus and this was mind blowing. So many CEO’s and executives from various companies across the globe. This was really worth it. I wish I was present there.”

Another Twitterati says:

“Fed-Ex is slow there are other services which are using blockchain technology in a far more appreciative manner. This is a failure.”

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