UPS, the U.S. based shipping firm has announced that it will be offering a new commerce platform for its business to business (B2B) sales that will be based on blockchain technology.
The new ecommerce platform, called Inxeption Zippy, is being developed by the commerce firm, Inxeption. The platform will be an online catalogue, facilitating businesses to showcase their products and services.
UPS said that the ecommerce platform is being specifically created to bring more B2B firms and merchants online. UPS claims that the slow adoption of technology greatly impacts businesses and Inxeption Zippy will help them catch up to the online digital marketing age.
The platform has an easy walkthrough tutorial, allowing any business to setup their catalogue with as little difficulty as possible. The platform will go beyond the simple listing of products and services. It will also offer services related to marketing and sales, such as search engines, review of sales and analytics to improve their market.
Why Blockchain for B2B
Kevin Warren, Chief Marketing Officer of UPS said “B2B buyers expect the same fast and convenient shopping experiences that consumers enjoy” and therefore, blockchain was the obvious answer. The speed, low resource and elimination of middlemen of the decentralized technology gives the B2B shopping experience.
The technology will give services such as ease of transactions, scheduling shipments and monitoring them, financial recording and handling purchase orders.
On the announcement of the Inxeption Zippy platform, CEO Inxeption, Farzad Dibachi said, “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.”
The global B2B commerce has grown significantly in the last few years. As of 2017, the global merchandise volume (GMV) stood at USD 7.66 trillion.
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