- FedEx has joined the Hedera Council, a group governing a distributed ledger network, and will run a node and participate in governance.
- The shipping giant views the technology as a key tool for digitally transforming global supply chains by enabling trusted data sharing.
- The council includes other major corporate members like Google, IBM, and Dell Technologies.
- Hedera’s HBAR token was trading around $0.094 at the time of the announcement, down 83% from its 2021 peak.
FedEx Corp. announced today it has joined the Hedera Council, aligning itself with other corporate giants to help govern the distributed ledger network. The shipping behemoth stated the move supports its vision of moving global commerce to digital speed, moving beyond paper-based processes.
Consequently, FedEx will contribute its logistics expertise to building open digital infrastructure for global supply chains. The company will operate a network node and help make governance decisions as a council member.
Executive VP Vishal Talwar declared, “The digital transformation of global supply chains is inevitable.” He emphasized that trusted data must be shared across many parties as supply chains become digital-native.
Talwar added, ”Hedera provides a neutral, enterprise-grade trust layer that enables verification at global scale.” This layer allows organizations to build their own unique capabilities on top of the shared network.
Meanwhile, Hedera Council President Tom Sylvester welcomed FedEx’s deep operational insight into global logistics. He noted their perspective will be valuable during the industry’s transition toward digitally native supply chains.
The council already includes notable members like Google, Dell Technologies, IBM, LG, and Deutsche Telekom. This corporate backing highlights the network’s focus on enterprise-grade applications.
The price of Hedera’s HBAR token fell about 1% on the day of the news to a recent price of $0.094. However, it remains 83% below its all-time high of nearly $0.57 set back in 2021.
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