United Parcel Service (UPS) will be working with Inxeption to streamline business-to-business (B2B) e-commerce for merchants. The two companies will be tapping into blockchain technology to make this happen.
It’s to be expected that blockchain’s self-regulating systems would eventually find their way to package delivery services. Now, UPS is diving this technology with plans to utilize blockchain technology to better the B2B side of its business operations.
UPS and e-commerce technology company Inxeption will be collaborating on a platform, called Inxeption Zippy. The platform will be used to help businesses market and distribute their products through a simple and secure portal. The idea is that such a system will bring together manufacturers, distributors, and wholesalers to set up their own company-branded online site by using the tools provided by Inxeption Zippy.
Inxeption has been working with blockchain technology for some time now and has even been named one of the 20 Most Promising Blockchain Technology Solutions Providers by CIO Review in 2018.
Because Inxeption is a well-known developer of blockchain-based software, it will be using this expertise to construct Inxeption Zippy.
According to a press release, distributed ledgers will allow for sensitive information such as contract-specific pricing and negotiated rates to be confirmed and only shared by the buyer and seller. Now, privacy-sensitive information no longer needs to rely on ‘trust’ or a third-party verifier; instead, the middle-man can completely be taken out.
The blockchain is a perfect fit for B2B commerce, given that trust must be established for proper market mechanisms to work to capacity. UPS and Inxeption may be paving a new road here for other B2B e-commerce platforms and services to follow.
What do you think of the partnership? Will blockchain make a significant impact on the B2B e-commerce sector? Let us know your thoughts in the comments.
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