Shipping giant FedEx Corp. recently announced that it has joined the Hedera Council, an initiative aimed at governing the Hedera distributed ledger network. This collaboration aligns with FedEx’s vision of transforming global commerce by moving away from traditional paper-based processes and embracing digital solutions.
The push for supply chain optimization has become increasingly significant, especially with the potential of distributed ledger technology (DLT) and blockchain networks. Vishal Talwar, FedEx’s executive vice president and chief digital and information officer, emphasized that the digital transformation of global supply chains is a necessity. He indicated that as supply chains evolve to become more digital, the sharing and verification of trusted data must occur among multiple parties while minimizing risks and avoiding centralized control.
Talwar explained that Hedera offers an enterprise-grade trust layer that facilitates verification on a global scale. This capability will empower organizations like FedEx to enhance their operations while maintaining unique technological advancements.
As part of its role in the council, FedEx will run a network node and actively participate in governance decisions alongside other esteemed council members. Tom Sylvester, Hedera Council President, highlighted that FedEx’s deep operational insights in global logistics will be invaluable in the ongoing shift towards digitally native supply chains. He expressed anticipation for the collaborative efforts to promote interoperable data verification that supports diverse industries and jurisdictions.
The Hedera Council also comprises several notable corporate members, including tech giants like Google, IBM, and Dell Technologies, as well as other significant players such as LG, Deutsche Telekom, and game publisher Ubisoft.
In related news, Hedera’s HBAR token experienced a slight decrease of about 1% on the day, trading at approximately $0.094. Despite this dip, the token has seen a 7% increase over the past week, although it remains 83% below its all-time high of nearly $0.57, which was reached in 2021.
