Categories: Bitcoin Business

Logistics Giant UPS Reveals Equity Investment in Blockchain e-Commerce Platform

Click here to view original web page at www.livebitcoinnews.com

Blockchain-based e-Commerce platform for B2B has revealed a partnership, as well as an equity investment by logistics giant UPS’ Strategic Enterprise Fund.

Blockchain-Based E-Commerce Platform

According to an official press release, logistics giant UPS, through its investment arm – the company’s Strategic Enterprise Fund, has made an equity investment in e-commerce oriented company Inxeption.

The company has designed a B2B e-commerce platform based on blockchain technology, intended to integrate segments such as product design, supply chain, and manufacturing. The idea is to enable merchants to grow revenues and increase online sales in a more scalable way.

Speaking on the matter, UPS’ Chief Marketing Officer Kevin Warren, outlined:

Inxeption’s technology is attractive to UPS because it helps unlock new efficiencies for customers using B2B e-commerce platforms. […] UPS creates alliances and partnerships to gain market knowledge and position the company as the shipper of choice in ecommerce.

UPS And Blockchain

This is not the first engagement of the logistics giant with the field of blockchain technology.

Last year, the company filed an application for a patent with the Patent & Trademark Office of the US.

The company was seeking legal protection for a system which uses blockchain technology to store different types of data within a distributed ledger.

In general, blockchain technology has seen positive reception in the shipping industry. Again in 2018, Australia’s Commonwealth Bank managed to ship and track 17 tons of almonds using distributed ledger technology.

Additionally, Live Bitcoin News reported that IBM and Ford have teamed up in a pilot project which uses blockchain to track ethically sourced minerals.

What do you think of UPS’ latest investment in a blockchain-based e-commerce platform for B2B? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock

According to an official […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Ripple Gives One Billion XRP to Former CTO Startup, Plus Paying For Publicity

Ripple Labs, the company behind XRP, has given for free some 1 billion XRP, worth $270 million, to a company… Read More

26 mins ago

54% of Bitcoin Volume on “Lower Quality Exchanges”: Report

The vast majority of the world’s cryptocurrency trading volume is in the hands of “lower quality exchanges”, while the world’s… Read More

26 mins ago

Bitcoin is Used more by Civilians than Some Bankers, Lawmakers or Terrorists

In many countries, including Palestine and the entire world at large, Bitcoin is used more by civilians than some bankers… Read More

26 mins ago

Billionaire Investor Tim Draper Claims Bitcoin Prices Will Hike Upto $250,000 By 2022

Very rich person Investor Tim Draper Claims Bitcoin Prices Will Hike up to $250,000 by 2022Bitcoin (BTC) may proceed to… Read More

26 mins ago

Bitcoin (BTC) mining giant Bitmain firm announces purchasing more crypto mining chips that subject to a potential profit of $1.2 billion

Risk Disclaimer - By using this web site you agree to its terms and conditions. All materials, including but not… Read More

26 mins ago

Squeaky-Clean Apple Is Quietly Pummeling Its FAANG Stock Buddies

Apple stock is brushing off a decline in iPhone sales while continuing to make gains in 2019. | Source: REUTERS/Joshua… Read More

26 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More