UPS Announces Investment and Partnership with Blockchain Company
The investment arm of the logistics giant UPS has a stake in the US block chain company Inxeption made in unnamed amount, the company confirmed in a press release on 16 January.
Inxeption, which began operations in 2017, aims to use blockchain technology to improve various processes for companies, including product design, manufacturing, and supply chain management.
Inxeption and the UPS Strategic Enterprise Fund are expected to work together to develop new features for the Inxeption platform.
Business customers need secure platforms that protect their customer data and proprietary information, and facilitate interaction and even more effective collaboration with their customers, “said Inxeption CEO and co-founder Farzad Dibachi.
Inxeption identifies its product as an ecommerce platform for the B2B market and joins a growing pool of blockchain initiatives that rely on technology to make complex enterprise systems more transparent.
UPS CMO Kevin Warren said that “Inxeption’s technology is attractive to UPS because it enables new efficiency for customers with B2B e-commerce platforms.”
Supply chains are a particular concern of companies developing 2019 Blockchain solutions. Just last week, several blockchain-based supply chain projects were announced, including ethical & nbsp; Cobalt Procurement for Car and Cell Phone Batteries.
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