According to FedEx’s CIO, international shipping is ready for the blockchain. Additionally, Binance founder Changpeng Zhao tweeted that the shipping giant should consider trading its token on the Binance DEX decentralized exchange.
According to FedEx CIO Rob Carter, a single standardized ledger for international shipping just makes sense.
In an interview with Computer World, the CIO compares the current predicament as similar to trains in the 1800s. There were initially, across the western United States, eight different competing railroad companies. Because of this, creating a unified rail system seemed impossible. However, through an act of Congress in 1863, a standard was established which made railroad tracks uniform.
According to Carter, a similar idea is needed for the shipping industry. There are competitors within international shipping, but the government should mandate that these “digital railroads” built on the blockchain should be standardized. This way, international shipping is on one global-ledger system.
Carter’s pro-blockchain stance is very encouraging for the future of the technology. However, it seems the current legislative efforts are lagging behind his desire for Congress to act.
Regardless, it’s yet to be seen whether FedEx will issue its own blockchain and token — but that hasn’t stopped Binance’s founder from suggesting that the shipping giant can trade its token on the Binance exchange.
Binance CEO Changpeng Zhao — commonly known as ‘CZ’ — gave Carter a light nudge on Twitter by suggesting that FedEx trade its token on the Binance decentralized exchange if it wants to trade its token somewhere before mainnet.
— CZ Binance (@cz_binance) April 26, 2019
Although the idea was light-hearted, CZ is nonetheless clearly open to such an idea. The Binance decentralized exchange was just released a few days ago and currently only trades a single token. However, the offered trading pairs on the decentralized exchange are expected to expand.
We likely won’t see FedEx’s token on Binance’s decentralized exchange, but we should nonetheless keep an eye on FedEx’s blockchain developments.
Do you believe FedEx will develop its own distributed ledger or will it, instead, push Congress to enact a standard? Let us know your thoughts below.
Images courtesy of Shutterstock, Twitter.