United parcel Services (UPS), a global courier company established in 1907, which had revenues of over $64 Billion in 2017, has been looking at Blockchain technology for a while.In Q3 2018 it joined The Blockchain in Trucking Alliance as it looked to improve transparency and efficiency among consumers, merchants and other parties that use its services.
UPS had filed for a patent in August 2018, which involved storing information dispatch to destination, creating a shipment plan, including payments, using Blockchain technology.
UPS’s Airline subsidiary, said at the end of December 2018, they were still looking for a “Killer App”, so not looking to implement Blockchain technology in the near future. However, UPS has now announced that it has entered a partnership with Inxeption to create Inxeption Zippy. A Blockchain-based e-commerce platform which helps merchants set up, sell, and ship products online.
The B2B e-commerce market is set to reach $1.8 trillion by 2023, according to Forrester research. This new platform will offer manufacturers, distributors, and wholesalers the ability to create their own branded e-commerce website .
The platform enables the listing, marketing, and selling of products. According to an official press release the Blockchain component of this platform is designed to safeguard sensitive information such as individual pricing and negotiated rates.
A good example where Blockchain will be implemented without consumers realising the technology is being harnessed, yet they will be able to enjoy the benefits of greater efficiency and data security.
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