UPS using blockchain technology! US shipping magnate, UPS, announced that they’ll be rolling out a new blockchain integration designed to bring Business To Business (B2B) sales into the digital age.
UPS has tapped e-commerce company Inxeption to develop a platform based on blockchain technology. UPS announced this deal yesterday.
The platform is slated to be called Inxeption Zippy, and will work as an online catalog for businesses. This is from the UPS news page.
UPS says that their integration of services is designed to draw more B2B merchants into e-commerce – slow adoption of online selling resources directly impact their businesses. Could a symbiotic partnership be implied here?
The platform will walk merchants through the step by step process of setting up an online site for their company, listing their products, and will even help achieve sales to other businesses via contract specific pricing.
But where does blockchain technology come in? Well, they’ll play a role in offering services for scheduling and monitoring shipments. Tracking transactions, purchase orders, and financial records will also rely on blockchain technology on the Zippy platform. While merchants will be able to use traditional fiat, cryptocurrency payments, however, were not mentioned.
The solution was inspired by the growth of B2B e-commerce, Kevin Warren, chief marketing officer for UPS commented, explaining that “B2B buyers expect the same fast and convenient shopping experiences that consumers enjoy”
Farzad Dibachi, CEO of Inxeption, said:
““We’re revolutionizing B2B e-commerce and bringing companies and their customers together online in a trusted manner. This relationship creates simplified pricing solutions for B2B merchants with limited digital marketing and IT resources to easily manage all aspects of selling and shipping from one secure place.”
What do you think? We keep hearing good news about cryptocurrency and blockchain technology. Even in the midst of this bear market, Samsung and Kakao are just two examples of bullish moves, bold moves for a bear market. These should be taken as signs of confidence! Let us know what you think on our Facebook Page!
