@FrederickSmith, founder and CEO of @FedEx which has grown into a $62 billion global enterprise spoke along with his Chief Information Officer, @RobertCarter. FedEx is a very large enterprise serving 220 countries. They move about 12 million shipments around the world. Many of them cross borders, interface with customs, authorities like the Food and Drug Administration and FedEx built the first chain of custody system using blockchain technology. They created a chain of custody system that’s able to keep numerous types of custodial records. The implications for the entire transportation industry are tremendous. Blockchain uses many of the quality metrics and statistics that evolved out of Deming’s work during WWII trying to come up with the so-called zero defect manufacturer. The whole quality movement came from that and it’s just the application of mathematical concepts and statistics to engineer out rework and make sure that things are done according to rigorous standards. The blockchain contains the entire transaction, so it can eliminate a lot of friction. The application of these custody chains, which is how they think about it in the context of supply chains is so critical to the information asset. Consensus2018, blockchainweeknyc @coindesk
