ShipChain Never lets your shipment get out of sight.
How do you feel when your shipment gets delayed or worst still gets lost?
I have experienced this and it feels terrible. Based on the delivery promise of next day delivery, I had ordered a Birthday gift for my mother online. Since my moms birthday was a good 2 day away so it seemed a safe bet. Yet on the promised day of delivery it did not arrive. I tried online tracking the shipment but it showed the status as “Out for delivery”
This status remained so even the following day leading me to make frantic phone calls to the seller who guided me to the delivery agent. After a never ending wait at the IVR the customer support executive said that the only information he had was that “my package was out for delivery”
Finally the package arrived 4 days after the promised date of delivery and way past my mom's birthday.
So who is to blame? The merchant, the delivery guy or some one else.
The real culprit
The real culprit is the way Logistics work. Even though the logistics market is the worlds most important market as it is responsible for transportation of goods and an integral part of our society yet it is slow to adapt to change.
The whole logistics system lacks transparency and its delivery methods are obsolete and need a major revamp.
So what is the solution?
The solution is to create a transparent and easy to track process of moving freight from A to B
The solution is ShipChain.io In a nutshell ShipChain.io is a web based, decentralized marketplace for businesses and delivery service providers. Through its interface businesses can track and have full control over their freight movement.
To buy these freight services a business would need to pay with the currency of the ShipCoin marketplace which is the ERC20 SHIP Token. All transactions would be carried out using the “ SHIP Tokens”.
Buyers would buy freight services from freight services providers by paying with SHIP tokens. SHIP tokens can be purchased from ShipChain platform by paying with fiat or cryptocurrency.
They would use the Ethereum blockchain, sidechains and smart contracts to achieve step by step documentation and transparency. A detailed explanation can be read from on ShipChain.io and the ShipChain.io WhitePaper.
To better manage each shipment the information about loads, geo waypoints and other shipment related information is recorded and publicly validated withing the side chain.Once the shipment is delivered and the contract is completed and stored on the main blockchain.
How does the ShipChain.io marketplace differ from the existing model?
Lets relook at what I experienced while ordering my mom's birthday gift as a use case.
Had shipchain.io been in place then the merchant would have manged the sending of my delivery through a simple user friendly interface like this
This would have kept both parties the sender(merchant ) as well as me the recipient on the same page.
It would have updated us of the status of the package in real time and had any foreseen situation arisen then I could have taken a remedial action like ordering another gift or sought the merchants intervention in expediting an accelerated delivery to make up for the lost time.
In my case the situation caused emotional discomfort. Now scale up the situation for a business that is procuring raw materials from different vendors or a replacement part for a broken machine. A delay means loss of business hours. Delayed orders and possible loss of business or escalating costs.
The ShipChain platform is based on a simple, yet powerful solution called "Track and Trace."
It makes it possible to track every consignment at every step of its journey.
It would give a reward to operators as an incentive for timely delivery and following efficient routes. This would boost the efficiency of delivery.
The system would do away with brokers and middlemen thus reduce cost of transport and streamline the process.
Full visibility of every step would reduce the chance of en-route theft and loss to the involved parties.
This More reliable method would reduce the risk of loss, damage and delays and may cause lower insurance costs with for each consignment.
The best part is that ShipChain be the working for all types of freights and would provide an API architecture that can intigrate with existing freight management software.
Best of all it is ready to take on the challenge of increasing business due to its scalability.
More resources
ShipChain.io
ShipChain.io WhitePaper
ShipChain.io Facebook
ShipChain.io Medium
ShipChain.io Twitter
ShipChain.io LinkedIn
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