FedEx CIO: It’s time to mandate blockchain for international shipping

TORONTO — When railroad tracks were first laid across the western U.S., there were eight different gauges all competing to dominate the industry – making a nationwide, unified rail system impossible; it took an act of Congress in 1863 to force the adoption of an industry standard gauge of 4-ft., 8-1⁄2 inches.

FedEx CIO Rob Carter believes the same kind of thing needs to happen for blockchain to achieve widespread enterprise adoption.

While the promise of blockchain to create a more efficient, secure and open platform for ecommerce can be realized using a proprietary platform, it won’t be a global solution for whole industries now hampered by a myriad of technical and regulatory hurdles. Instead, a platform based on open-source software and industry standards will be needed to ensure process transparency and no one entity profits from the technology over others.

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