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UPS To Use Blockchain For Shipping, Tracking, And Logistics Services

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Logistics major United Parcel Service or UPS, is in deal with blockchain-for-business firm Inxeption to use an integrated blockchain-powered platform called Inxeption Zippy to streamline transactions and logistics from one secure dashboard.

The platform is expected to help B2B merchants to become digital sellers, while customers can easily order and receive their products with trusted shipping from UPS.

Business customers will be able to receive shipping and tracking services from UPS through the secure blockchain-powered platform, with protection for their customer data and proprietary information.

Inxeption's blockchain-backed technology helps ensure that sensitive information such as contract-specific pricing and negotiated rates are only shared between the buyer and seller.

Merchants should be able to view their entire supply chain from product listing to delivery.

UPS' investment arm Strategic Enterprise Fund had made an equity investment in Inxeption in mid-January. Both companies are working together to develop and bring to market new e-commerce solutions for B2B sellers and buyers.

Earlier in August last year, UPS had filed for a new patent to use blockchain to assist in simplifying package delivery around the world.

The concept, entitled "Autonomous services selection system and distributed transportation database(s)," involves storing numerous types of data within a distributed ledger network. These include information about a package's destination, its movement and transportation plans for shipment units.

In November 2017, UPS had joined a transportation-focused blockchain consortium called the Blockchain in Trucking Alliance (BiTA), a forum for the development of blockchain technology standards and education for the freight industry.

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