UPS partners with blockchain startup for B2B platform
UPS, a global leader in logistics, announced a partnership with Inxeption that targets B2B merchants. The two companies partnered to launch Inxeption Zippy, a blockchain-based platform that aims to streamline transactions and logistics for businesses.
On their press release, the two firms stated that each will bring a wealth of experience from their respective fields. Inxeption is an e-commerce platform that uses blockchain technology to ensure “trusted, secure and reliable transactions.” It will enable manufacturers, distributors and wholesalers to easily set up shop online and start selling.
“Its blockchain-backed technology helps ensure that sensitive information such as contract-specific pricing and negotiated rates are only shared between the buyer and seller,” the press release added.
On its part, UPS will bring its expertise in logistics, giving the clients “a seamless, end-to-end experience where merchants can view their entire supply chain from product listing to delivery.” They will be able to schedule orders and monitor returns as well as manage bulk orders. They will also be able to process the transactions by credit card on the platform. Moreover, the platform will enable its users to conduct search engine marketing and review marketing analytics.
The CEO of Inxeption, Farzad Dibachi, was full of praise for the partnership. His firm has been on the frontline in the revolution of B2B e-commerce, using blockchain to do so, he stated. In partnering with UPS, the largest delivery company in the world, they are giving their clients even more choice.
He stated, “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.”
This isn’t the first time the two firms have been associated. In fact, UPS owns a stake in Inxeption. The company invested an unrevealed amount of money in Inxeption back in January this year. As we reported then, the investment was to “create innovative new e-commerce solutions for B2B [business-to-business] sellers and buyers.” UPS has also applied for patents to use blockchain technology in its international package delivery.
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