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As those in the finance industry are just now starting to realize, Bitcoin and its associated technology can be a boon to faster, more efficient business
As those in the finance industry are just now starting to realize, Bitcoin and its associated technology can be a boon to faster, more efficient business. Yet, there are plenty of other global industries that could use a technological upgrade, like global shipping. Industry leader UPS executive Rimas Kapeskas apparently sees the forest through the trees in a recent corporate blog about UPS, Bitcoin, and the future of the shipping industry.
Rimas Kapeskas is the Managing Director of the UPS Strategic Enterprise Fund and his post on the UPS Corporate blog site “Longitudes” focused on how the company can improve through new technologies. He clearly sees the limitations of rather ancient technologies like credit cards that create issues with account settlements that can take days and currency exchange rates that increase costs and waste time. Bitcoin would certainly be a quantum leap above such problems.
A virtual currency like Bitcoin could open up an array of new markets: t.co/HY9jIRSJwb pic.twitter.com/AvgR0tI1ut— UPS Longitudes (@UPSLongitudes) September 5, 2015
A virtual currency like Bitcoin could open up an array of new markets: t.co/HY9jIRSJwb pic.twitter.com/AvgR0tI1ut
Kapeskas astutely points out that other industries are moving into the digital currency space. The world’s largest financial corporations like Barclays, Citigroup, NASDAQ and IBM have made inroads as well as over 100,000 mainstream retailers like Microsoft, Dell, and Expedia. He sees an opportunity for UPS to grow faster and stronger with this cutting-edge technology.
“From our vantage point, the driving force globally is that all companies and consumers can easily do business with one another. In other words, it doesn’t matter where those goods are coming from – UPS can provide the transportation solutions to ensure speedy delivery. We just need the technical and regulatory advances that will allow global financial transactions to happen.”
The blog also comes across as a history lesson for other UPS execs, going over the advances made by the M-Pesa in Kenya, and even linking to Satoshi Nakamoto’s original Bitcoin white paper. Bitcoin has certainly made a positive impression upon many global executives who take the time to learn the broad strokes of it, and Kapeskas is no different. He seems ready to welcome a future that has Bitcoin as a global system of exchange that can bridge businesses and people of all nations together.
“Virtual currency seems like a logical next step, one that could bring markets closer together and facilitate faster trade,” writes Kapeskas. “Usually, the advances that stand the test of time are the ones that most effectively eliminate barriers and make commerce easier – perhaps that’s why global trade is so ready for a global exchange system that enables seamless transactions.”
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