Yojee Ltd (ASX:YOJ) has entered into a pilot agreement with UPS Asia Group, a subsidiary of United Parcel Service, Inc. (NYSE:UPS), to use Yojee’s blockchain technology in UPS supply chain environment.
The company’s shares were last trading about 10.5% higher intra-day, at $0.21.
Yojee is a platform technology company developing powerful logistics and supply chain management capabilities via its blockchain secured software.
Yojee’s software is integrated with #Blockchain! Test runs for Blockchain backed, Proof of Existence has been a success! Read more about it https://t.co/MNYclNR04N#Yojee #YojeeSoftware #Logistics pic.twitter.com/ujv89zHNL3
— Yojee (@sendyojee) January 23, 2018
The company is expected to deliver the UPS Asia pilot by early April 2018.
Largest and fastest growing region in global logistics
Yojee managing director Ed Clarke said: “We look forward to working with UPS, the world’s largest package delivery company, to pilot Yojee’s blockchain-backed platform in the Asia Pacific region, the largest and fastest growing region in global logistics.
“This blockchain pilot services agreement with UPS highlights the global interest in applying blockchain technologies to the freight and logistics industry and Yojee’s unique sector capabilities.”
Yojee is in an early-mover position
Blockchain systems provide an unprecedented opportunity to transform logistics and supply chains, with huge benefits to business and customers.
As such, the freight and logistics industry is investing heavily in blockchain technology to deliver a cheaper, more efficient and secure system to manage the enormous growth expected over the next decade.
Yojee is in a strong early-mover position to lead the industry digitisation movement and is already well advanced along its development roadmap.
READ: Yojee partners with Chinese global logistics giant
The company recently signed a two-year partnership deal with one of China’s largest shipping and logistics company, Sinotrans Integrated Logistics Australia (SILA).
SILA provides export and import logistics services for fast moving consumer goods and steel products.
Yojee will be employing its Control Tower technology to maximise delivery visibility, optimise dispatching capabilities and manage SILA's third-party partners.