SAN DIEGO--(BUSINESS WIRE)--XYO Network, the technology bringing blockchain to the real world, today announced it will partner with FedEx Institute of Technology to jointly explore benefits and opportunities based on XYO’s work with blockchain-based relative location technology. As part of an elite partnership program for innovative leaders with the FedEx Institute of Technology at the University of Memphis, XYO Network will work directly with logistics leaders to create real-world solutions leveraging blockchain-based location data to improve upon the company’s existing delivery platform, logistics systems, and more.
Founded in 2003, the FedEx Institute of Technology is an advanced technology and research organization that serves as the gateway to the research infrastructure and innovation capabilities of the University of Memphis. It serves as a catalyst for interdisciplinary research and innovation in emerging technologies by supporting multiple research innovation clusters, and is a unique public private partnership among Fortune 500 companies.
“We see a strong innovative element to the work the XYO team is doing, and we feel their progress and developments could potentially impact the broader world in significant ways," said Cody Behles, Director of Innovation and Research Support at the FedEx Institute of Technology. “We look forward to seeing how we can reshape the conversation about what is possible in the logistics industry.”
Through the innovative program at the Institute, XYO will work closely with leaders and decision-makers in Memphis, the capital of logistics in the United States collaboratively brainstorming and developing ways that solutions from XYO can integrate and add value to the logistics industry.
“We’re excited to build out our partnership and to contribute to the innovation at the FedEx Institute of Technology in a unique and meaningful way,” commented Markus Levin, co-founder of XYO Network. “What we’re doing with location verification and the blockchain can significantly enhance the already-advanced body of knowledge and technology in the field. We look forward to building out new value-add applications with our colleagues at the Institute over the short term.”
XYO Network is a member of the Blockchain in Transport Alliance (BiTA), a global leadership and advisory group focused on leveraging blockchain technology to improve logistics management. Prominent other members of the association include FedEx, UPS, Target, Google, British Petroleum, GE Transportation, CSX and APL Logistics.
About FedEx Institute of Technology
The FedEx Institute of Technology is an advanced technology and research organization that serves as the front door to the research infrastructure and innovation capabilities of the University of Memphis. It functions as a catalyst for interdisciplinary research and innovation in emerging technologies by supporting cross-campus research innovation clusters. The Institute is also home to the University's intellectual property and patent repository which is the focal point of technology transfer and licensing operations. The Institute enjoys a unique innovation partnership with FedEx, which sponsors the Institute for advanced research purposes. The Institute is the central hub for efforts to maintain a cutting-edge innovative environment in the Mid-South region.
About XYO Network
XYO Network is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO Network ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, please visit https://xyo.network.