UPS Asia Group and Yojee Ltd have entered into a new agreement that will see the two companies have a wider and longer-term partnership in the use of blockchain technology. Under the agreement, which will last for one year, the two companies will identify specific projects that they can jointly work on. Yojee will charge a fee for each project.
Blockchain pilot partnership
The two companies have signed this agreement following a successful partnership on a previous blockchain pilot project. The pilot agreement involved using Yojee’s Blockchain solutions. The new agreement will offer a broader partnership and will allow the two companies to work together more efficiently.
The two companies will jointly work together in developing and improving products and services for the UPS operating environment. Additionally, the two companies will work together on identifying new opportunities they can work on together in areas like software, technology, blockchain and payment.
In a statement, Ed Clarke, managing director of Yojee, said they were happy to enter into a much broader partnership with the largest package delivery companies in the world. He added that the partnership with UPS will be extended to cover new areas. Clarke said the new partnership will offer more industry validation and endorsement of the leading market capabilities of Yojee.
Blockchain Technology and Logistics industry
Yojee Limited is currently engaged in the development of a logistics technology platform in the Asian Pacific. The platform will be based on sharing-economy. The company is working on becoming the first to offer collaborative cross border transport and logistics networks that connect carriers and senders. Yojee has a transport and logistics software that uses Machine Learning, blockchain technology and artificial intelligence to offer world class optimization and management. The main objective behind the blockchain-based platform is to offer a smooth business experience, optimize resources, fees and customer satisfaction.
The logistics and supply chain industry is one of the many industries that are strategically placed to benefit from the adoption of blockchain technology. The transformation of the sector is expected to benefit both customers and businesses. In addition, the sector is expected to undergo tremendous growth and expansion in the next decade.
