The Italian Postal Service appears to be the newest partner in using an open-source standard for blockchain called Hyperledger that was developed by the Linux Foundation as a way to promote innovative coin and blockchain programs in a transparent manner.
We’ve been reporting on Hyperledger for a while now as a particular use case of blockchain technology with powerful stakeholders including J.P. Morgan, Cisco, American Express and Intel.
Now in a brand-new press release, Poste Italiane is indicating that the department will use Hyperledger as part of a “Deliver 2022 Business Plan” according to Cointelegraph Italia.
In covering this news today, Aaron Wood notes that when FedEx, a major player in U.S. delivery markets, joined Hyperledger last year, CEO Fred Smith reasoned that blockchain technology has “big, big implications” for supply chains.
Why is this news important to traders?
Those who are long on Bitcoin or other cryptocurrencies are looking for indicators like this that suggest cryptocurrency initiatives are more than just a flash in the pan.
Nouriel Roubini characterize cryptocurrencies as simply the ‘flavor of the day,’ institutional buy-in this year may show that blockchain is less of a faddish technology than its detractors would suggest.
The adoption of a project like Hyperledger by a traditional national postal service is a prime example because of the hidebound way that government offices have operated for most of our lives.
When you see a national postal office innovating like this, it’s a real indicator that the times are changing. Look for more of these big institutional moves as we continue to chronicle the breakout activity of blockchain and cryptocurrencies in the markets along with the rise and fall of individual coin values.
For example, Bitcoin remains well under $3500 today, but then again you look at its $20,000 high last year, and in conjunction with the overall sea change in the financial world, traders can make their own guesses about Bitcoin futures. In fact, top stakeholders are working on building a Bitcoin futures market so that those who have their predictions can actually put down their money to back them. For now, keep an eye on coin pricing, and place your bets accordingly.