SHIPCHAIN - A Revolutionary, Decentralized Solution For The Global Product Transport Industry
SHIPCHAIN - A Revolutionary, Decentralized Solution For The Global Product Transport Industry
The Global Product Transport Industry - A Broken, Multi-Trillion Dollar Industry That SHIPCHAIN Aims To Fix
The global product transport industry expects to grow from the current $8.5+ Tln (Trillion) to over $15.5 Tln by 2023.
Unfortunately, the industry's present state of affairs is a picture of poor communications, technical incompetence and corporate greed.
It is fraught with exhorbitant consumer fees, blatant inefficiencies, poor product tracking, lack of accountability and numerous unnecessary redundancies.
In short, the present global product transport industry exhibits the same problems that are in all of today's archaic and centralized industries.
SHIPCHAIN will revolutionize the present industry through the inherent advantages of decentralization.
But wait...
The Elephant In The Room
Before we discuss how SHIPCHAIN can benefit all stakeholders (i.e., consumers, transporters, and producers) within the industry, we must point out "The Elephant in the Room".
It is something that everyone knows, but for whatever reason, rarely talks about openly - much less in print or other public media.
Nevertheless, it is an important reason why the global product transport industry cannot continue to do business as usual and must change - as soon as possible.
The Seedier Side Of The Industry
Almost from its inception up to now, the global product transport industry has suffered - and continues to suffer - from massive "shortages" (a polite term for employee theft, or "an inside job").
With an exploitive and bloated middle-man structure and wide-scale mismanagement, graft and corruption runs rampant through the system - virtually unchallenged.
SHIPCHAIN - A Cure For What Ails The Industry
Here are the major ailments that are currently plaguing the global product transport industry.
They are paired with the corresponding solutions that the SHIPCHAIN platform promises to offer.
Poor Tracking
The present, "spaghetti mess" of disparate, proprietary tracking systems used by each major product transport company cannot communicate with those of other transport lines.
Furthermore, these systems rarely produce timely and accurate tracking data.
SHIPCHAIN fixes this problem by putting together all tracking information onto the Ethereum blockchain and creating an ecosystem that enables efficient communication across all modes of transport and all carriers.
Waypoints for individual smart contracts are easily and quickly accessed via a channel's own sidechain (a place, off-chain, where participating parties negotiate and reach consensus).
Unlike the current system that has huge lapses in reporting and multiple "blind spots" (oftentimes, items seem to just fall into a mysterious Black Hole), SHIPCHAIN will provide reliable, realtime tracking information from Point "A" to Point "B" and everything in between.
Lack Of Accountability
No one seems to know (including the FBI) who should be held accountable for the ~$30 Bln worth of cargo that's stolen every year.
The present maze of intermediaries in the industry makes it quite easy to dodge responsibility. A transporter can simply claim non-receipt; or say it's the result of another carrier's wrongdoings.
In fact, the lack of accountability allows anyone to lay the blame on whomever they pick from the tangled supply and delivery chain.
The current system has no solid mechanism to ensure strict accountability; meaning: there's virtually no way to rightly point a finger at anyone and be sure that the item went missing on exactly that person's watch.
Adding salt to this sore problem is the ease with which documents can be forged and altered after the fact.
SHIPCHAIN will eliminate these problems by providing precise, detailed shipping and tracking information.
It will clearly show where an item is, when it arrived, and the persons having custody.
Records will not be vulnerable to forging or alterations because all blockchain and sidechain entries are set in stone and cannot be changed.
And all these services and data will be available 24/7.
SHIPCHAIN - A Fair Deal For All
As depicted in the image above, SHIPCHAIN is structured to be equitable, incentivise efficiency, and operate on a foundation of transparency.
SHIPCHAIN - Making The Days Of "Business As Usual" A Thing Of The Past
Get more details about SHIPCHAIN here on their website: https://shipchain.io
By JaiChai
Parting Shot
Thanks for stopping by.
About the Author
He is a retired U.S. Military veteran. Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.
In spite of a fear of heights and deep water, he freefall parachuted out of airplanes and performed diving ops in very deep, open ocean water.
He spends his days on an island paradise with his teenage daughter, longtime girlfriend and three dogs.
If you enjoyed my post, kindly: Upvote, Follow, Comment and Resteem.
This post is submitted as an entry to @originalworks' "90 STEEM + Submission Bonuses ~ Sponsored Writing Contest: ShipChain.io"
If you wish to submit an entry, go to:
top work dude ! I like your this weeks entry including the photo memes... the mob references are particularly humorous and true. nobody is accountable for the losses (we pay) and for this reason you have most correctly identified BlockChains' most excellent use case for freight logistics :) Bravo 10-4 Charlie Delta, there's a prize 3 clicks out in a few 1000 mikes with @jaichai's name on it:)
@outerground,
Thanks, buddy.
I fleshed that article out while trying not to be obnoxious, or worse, fall asleep during a PTA meeting.
(Heavy Sigh)
Namase, my friend.
JaiChai
nah, it's all good. there's a fine line between obnoxious and witty and you definitely know how to traverse a knife blade ! ;) Best of Luck :>>>
Once something like this became implemented I would imagine it would have a run-on affect into other industries also. Such as insurance. Shipping insurance would be a fortune given the high level of "shortages".
Something to keep an eye on for the future. Thanks for sharing.
never heard about it . thnx for sharing , now i will google it. you made me curious
@sanay011s,
Thanks for visiting and commenting.
Namaste,
JaiChai
ShipChain will really make the International business successful... Wow @jaichai you have great quality content post.. Thanks for sharing .. Very informative :) have a Good day
@jaycee7viral,
Thank you so much for visiting, commenting, and of course, the kind words.
Update: SHIPCHAIN raised so much money on their Pre-Sale that they pulled their ICO.
Upvoted your comment and following you now.
Namaste,
JaiChai
@originalworks
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#untalented
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