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FedEx Partners With BiTA To Pioneer In Transport Blockchain

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Shipping giant FedEx has reportedly partnered with Blockchain in Transport Alliance (BiTA) in order to integrate blockchain-based platforms into its operations.

Freightwaves reported that FedEx has outlined plans to set standards for the use of blockchain in governing and tracking shipment transactions. The company, which joined the organization as a founding member, has already begun testing some blockchain platforms.

"We are proud to be a founding member of BiTA and the BiTA standards board, because we want to work on developing common standards around blockchain technology in the transportation industry," Dale Chrystie, vice president of strategic planning & analysis at FedEx Freight, said to Freightwaves.

"We continually try to enhance the customer's experience, and blockchain is tied to that. We try to make it easy for our customers to do business with us. Since the technology is around making data more secure and transparent, we see that it holds a lot of promise."

FedEx has launched a pilot program using blockchain to store data for dispute resolution, Chrystie said.

Shipping industry have been trying to use blockchain technology to automate shipment tracking that will in turn reduce costs and increase security.

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