Share this article
UPS Eyes Paperless Shift With Blockchain Consortium Entry
Global shipping giant UPS has become the latest member of a blockchain consortium focused on the trucking and shipping industry.
By Nikhilesh De
Updated Sep 13, 2021, 7:08 a.m. Published Nov 7, 2017, 9:45 p.m.
Global shipping giant UPS has joined a blockchain consortium focused on the trucking and shipping industry.
The aptly-named Blockchain in Trucking Alliance (BiTA) announced today that the firm will help develop standards around the tech's use for systems that track packages, facilitate payments between shipping parties and other applications within the industry.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In statements, Linda Weakland, UPS director of enterprise architecture and innovation, cited several possible use cases that UPS plans to explore through the consortium.
Weakland was quoted as saying:
"The technology has the potential to increase transparency and efficiency among shippers, carriers, brokers, consumers, vendors and other supply chain stakeholders."
Today's announcement struck a notably bullish note on the question of whether the technology will actually find its way into the firm's services. Developing standards around blockchain, UPS said, "will support the logistics strategies that enable...customers to participate in global trade and finance."
UPS is already looking into how blockchain can be used in its customs brokerage business, according to the release. The idea is that the technology could help UPS shift away from largely paper-based processes and toward a more efficient, shared platform that its customers and third-party associates can use.
The trucking consortium was originally created to help develop such standards, co-founder Craig Fuller said in a statement when the group was formed.
UPS trucks image via Lukassek / Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
