UPS Postal Company Starts Working On Blockchain
UPS, an American express delivery company, together with Inxeption, launched a blockchain platform for supply chains, according to a press release.
A decentralized system called Inxeption Zippy will allow merchants to place, sell, and send products to customers. Trading companies now can track the entire cycle of product delivery, make returns, and monitor their sales statistics on the blockchain platform. They can also be sure that confidential data, such as contract-specific pricing, will be protected and inaccessible to third parties.
The e-commerce platform Inxeption Zippy is primarily focused on B2B clients — manufacturers, distributors, and wholesalers. Farzad Dibachi, the head of Inxeption, stated the new product will offer a simple solution for online operations, sales, and deliveries to companies that lack their own IT resources.
It is noted that although the B2B direction is developing rapidly, participants of this market are reluctant to switch to e-commerce solutions like blockchain. Most deals are still made through intermediaries or direct sales.
However, UPS is not the first shipping company that got interested in blockchain. At the beginning of the year, an Italian postal service Poste Italiane joined the Hyperledger consortium willing to implement the technology by 2022. Previously, one of the largest delivery services, the American company FedEx, also joined the blockchain project Hyperledger.
Earlier, the Alibaba online retailer announced its intentions to use blockchain for shipping abroad.