Many big-name entities have looked to incorporate blockchain technology over the past year. UPS, another sizeable player, now entered the ring.
According to a press release from UPS, the transportation giant will work with blockchain solution provider Inxeption in the business-to-business (B2B) space. Thanks to the collaboration, B2B sellers will benefit from the Inxeption Zippy platform. The product will allow for broad marketing and distribution activities from a single central secure point.
The press release explained:
Inxeption’s e-commerce platform and online product catalog enable manufacturers, distributors and wholesalers to easily set up a company-branded online site to conduct e-commerce transactions. Inxeption then helps them list, market and sell their products to their business customers.
The press release further noted Inxeption is blockchain-based, allowing for privacy and security of important data. UPS fits the equation well, supplying the method of transportation and delivery. The collaboration allows sellers to see and track the whole supply chain process, with confidence in a proven shipping giant like UPS.
UPS chief marketing officer Kevin Warren said in the press release: “The growth of e-commerce is driving B2B buyers to expect the same fast and convenient shopping experiences that consumers enjoy.” Warren added the collaboration “is another way we’re creating innovative solutions that helps small businesses deliver quality service for their customers and succeed in e-commerce.”
Warren has experience with innovative technology as he previously worked with Xerox, and also helped them with their 3-D printing initiative, as mentioned in a press release on his transfer to UPS in 2018.
According a report from Forrester, the research group “forecasts that US B2B eCommerce will reach $1.8 trillion and account for 17% of all B2B sales in the US by 2023.” Although, the UPS press release stated the majority of B2B activities are still stuck in the past, not utilizing the benefits of e-commerce.
UPS and Inxeption are seemingly providing a one-stop-shop for B2B online commerce needs, which simplifies the experience while adding trust and security to the situation with blockchain technology.
Inxeption CEO Farzad Dibachi said in the press release: “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.”
The past two years have seen many mainstream giants jump into the blockchain space looking to incorporate the technology. In February 2019, Crypto Insider noted Walmart and IBM’s work in blockchain. General Motors also joined the blockchain space, partnering with Spring Labs to incorporate the technology. Additionally, J.P. Morgan is looking to benefit from blockchain with its JPM Coin.