The Story of the Humble Shipping Container - & How it revolutionised Cargo Transportation (IMMLA BlockChain Logistics)
IMMLA
Here's a project to watch out for. It's currently in ICO phase. I have no active interest in it at the moment but I am keeping my eyes on it for a couple of very good reasons. It's a BlockChain Logistics system based on smart contract fulfillment. (SMART THINKING COWBOY.) It's estimated that in the US alone companies lose between 8 & 30 billions dollar per year (IMMLA claim) through crime within logistics and shipping. It's such a complicated business that losses are inevitable. It doesn't have to be so gnarly though.
BlockChain Revolution
This is the kind of BlockChain revolution which I'm really interested in as it (may) if it proves successful, improve and enrich everyone's lives, (except the thieves, hustlers and lazy, incompetent weak chain links ), because as consumers, it's us who are paying the increased prices on goods due to losses, which are factored in to the retail price of the things which we routinely buy from foodstuffs to clothes, laptops and TV's. It's not the producers of goods who pay this premium. They pass the cost on to the consumer. Which brings me to the story of the humble shipping container. With the deployment of smart contracts, it will be the weak chain links which suffer and that is usually a really efficient way to upgrade a system.
The Humble Shipping Container
Such a ubiquitous and iconic object. You've seen them a million times over, stacked up, on trucks and in long chains on trains and you might have often wondered what's behind the Maersk logo. You'll never know and that's the whole point. In addition to the fact that they are standardised in size and are designed to stack on top of each other, they keep cargo safe and dry from the elements until they reach their destination, no matter how far that may be. Although various types of container were innovated since the 1830's when rail cargo took off, it wasn't until the 1950's that the modern container as we know it was invented. It trundles around the world in huge herds on ships, trains and trucks to be opened with relief a million times over by the eventual recipient of the precious goods.
Malcolm Mclean
A trucker fed up with watching the agonising process of loading cargo onto ships decided there had to be a better way to do it and as we know, wooden crates are no match for steel boxes when it comes to protecting and hiding cargo from the elements and (prying eyes). His design was a modern marvel and although it would be a while in the making, his design was the key. This didn't all happen overnight or all in one go. The US army had been experimenting with standard steel cargo drops during the Korean war and it would take a whole new infrastructure to be developed which would revolutionise how goods are shipped, saving 25-30% of cargo from pilfering in the process and a whole load of time at ports. It would need a different type of ship to prove it's worth and being a smart chap, he converted the Gateway City in 1957 and there was no looking back. In some of today's most modern ports, the entire process of loading and unloading containers is now completely automated and there are a skeleton staff overseeing a fleet of robotic cranes and shuttles.
IMMLA ICO
Hoping to build on the success of the container revolution by cleaning up and introducing efficiency into the logistics chain by smart contract deployment in an end to end process driven by the chain, the model also includes an interesting 36% share of SALES REVENUE for token holders and that is the kind of investment opportunity that interests me as a long term crypto hodl. It remains to be seen whether they can pull it off but if just one of the Maersks of this world sign up it's a BOOOM ROCKET and one which the world may look to in the future as a case example of how BlockChain changed the world ! in the same way this article references Malcolm & the Shipping Container. Incidentally I watched a fascinating documentary for BBC about the history of the shipping container. Here's the link, It's called The Box that Changed the World by the talentedGraeme McAulay.
Pre-BlockChain Logistics Supply Chain
In this inter-dependency based flow diagram image we can see that logistics is a chain gang. Disparate entities co-dependent upon each other with differing priorities. A waiting game. You already know this because on an ideal day, your online purchase of (INSERT PURCHASED ITEM HERE) comes overseas from ebay, amazon, etc with perfectly expedited efficiency. On an equally bad day, it could take weeks, or not even arrive. This is the thin end of the wedge. Can you imagine if you'd ordered 500,000 fidget spinners in March from the factory in China and they still hadn't turned up? uh oh, you end up with a container full of last season's must have, yesterday's toy. ouch, this does happen.
Post-BlockChain Logistics Supply Chain
In this streamlined flow diagram image we see the internet linked operators interfacing through the IMMLA console, thereby eliminating many guessing steps. Because smart contracts fulfill automatically based on certain criteria being met, excuses for delays should in theory diminish rapidly and where log jams & bottle-necksoccur it should be fairly straightforward to identify, remedy and refine. If people don't get paid because their end of the bargain was not met, you can see it on the system. This leads to a greater emphasis on a reputation and trust model. Good providers win business, poor performers lose.
IMMLA process envisaged
In this final image, where the container has been exploded to better visualise the process, we can see how the deployment of smart contracts has the potential to improve and drive efficiencies. I cannot vouch for the technology nor it's readiness for the global market but I have a hunch that if they get it right, it will be of great value to the industry and will perhaps be even emulated and branched for other similarly global, economic & chain dependent entities.
the opinions in this article are for education and entertainment purposes only. They do not constitute professional investment advice. @outerground always recommends performing your own due diligence in matters of investment. crypto is volatile and you may get your fingers and pockets burned. ICO's are particularly risky business for the uninitiated
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This looks great. I was waiting for something like this to happen.
This is really good stuff, shame I missed this when you wrote it. I have been waiting for a logistics blockchain solution. Earlier this year I dabbled in bringing over some product from China. I was stunned at how much waste there was along the supply chain.
How is IMMLA performing; did you get any?
Cg