Wed. Sep 28th, 2022

Blockchain contracts and IoT could save global shipping billions of dollars every year. By automating the process of tracking and verifying shipments, blockchain could help reduce the cost of shipping by up to 30%. Additionally, by integrating with IoT devices, blockchain could provide real-time tracking of shipments, further reducing the cost of shipping.

Other related questions:

Q: How blockchain seeks to transform the shipping industry?

A: Blockchain technology has the potential to revolutionize the shipping industry. By creating a decentralized and tamper-proof record of transactions, blockchain could streamline supply chains, reduce fraudulent activities, and improve visibility and traceability throughout the shipping process. This would ultimately lead to reduced costs and improved efficiency for businesses and consumers alike.

Q: How is blockchain and IoT related?

A: Blockchain and IoT are related in that both technologies can be used to create a decentralized network. For example, a blockchain can be used to create a decentralized network of IoT devices. Alternatively, an IoT device can be used to create a decentralized network of blockchain nodes.

Q: What can blockchain do?

A: Blockchain can be used to create a secure and tamper-proof record of transactions. This can be used to track ownership of assets, create smart contracts, and more.

Q: How does FedEx use blockchain?

A: FedEx is using blockchain to help track and manage global shipments. The company is working with IBM on a blockchain platform that will allow it to track shipments and share information with customers and other stakeholders in real time. The platform will also help FedEx to improve visibility and efficiency in its supply chain.

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