Yojee Ltd (ASX: YOJ) has entered into an agreement with UPS Asia Group, a subsidiary of United Parcel Service, Inc (NYSE:UPS) to provide a framework to facilitate an ongoing technology collaboration.
Under the one-year agreement, specific projects may be identified by the companies and fees may be derived by Yojee on such collaborations.
READ: Yojee shares rise on signing blockchain technology deal with UPS Asia
Following on from their recent successful blockchain pilot collaboration, Yojee and UPS agreed to enter into the agreement to facilitate a broader and longer-term collaboration.
The intention of this overarching agreement is to enable both parties to more efficiently work together to develop and improve services and products for the UPS operating environment.
The companies will also identify further opportunities to collaborate in areas spanning technology, software, payments and blockchain.
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Yojee managing director Ed Clarke said: “We are excited to extend and broaden our working relationship with UPS, the world’s largest package delivery company, through this overarching innovation partnership which will span technology, software, payments and blockchain.
“Following on from our successful blockchain pilot, this provides further industry validation and endorsement for Yojee’s market leading 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.