EximChain: Underrated Game Changer in Supply Chain Management

in ethereum •  last year

Background Story

The global supply chain is a massive industry that involves mutliple participants from manufacturers, intermediaries, buyers, and logistical services. With the global supply chain expanding from different countries, technicalities of transporting material from manufacturer to buyer becomes more complicated every year. However, management in supply chain has not caught up with its growing demand.

There are inefficiencies in current global trading where businesses have no access in transaction histories of business partners to check their reputation. Last year, an estimated loss of $5.2 trillion in potential revenue was calculated due to lack of transparency and connectivity in global supply chain. Additionally, traditional barriers have hindered Small Business Enterprises (SMEs) from accessing financial sources.

The industry must adapt to this change and incorporate new strategies. EximChain offers a tool that will innovate traditional supply chain management. Using blockchain technology's public ledger, it offers transparency and traceability - the core of every business transaction and trading alliance.

What is EximChain?

  • A platform for supply chain processes powered by blockchain technology

The Key Concepts:

  • A supply chain that offers smart contract SDK (software development kit) tailored for companies to build end-to-end solutions
  • Multi- Party Dynamic Contracting which aligns incentives among different participants
  • Enables SME (small medium enterprise) to manage their sourcing, financing and logistics process on blockchain with supporting data privacy
  • The Infrastructure is designed with combination of quadratic voting and a staged governance level, creating an ecosystem that will become fully decentralised in time

What does EximChain improve

  • Scalability: Existing financial source currently unserve SMEs
  • Transparency: EximChain provides access to smart contract history between parties- giving more visibility and risk estimation.
  • Efficiency: SME contribute up to 60% of Global employment and 40% of Global GDP. This project reduces barriers for SMEs which would increase liquidity and productivity. EximChain enables buyers and suppliers to customise contract solution based on industry needs thus, maximising profit.
  • Trust: In global trading, buyers and suppliers have conflicting objectives. EximChain offers a platform where partners can share demand and inventory information across a common ledger. Incentives of participants (developer pools, clients, and corporates) in the EximChain ecosystem are aligned on a protocol level.

Mechanism Behind Key Improvements

  • Powered by leveraging quorum
  • Consensus based algorithm to add governance in ecosystem

Governance

  • Consists of 2 nodes:
    1.)Maker Nodes- responsible for proposing blocks
    2.)Voting Nodes- functions as validators, have responsibility of voting out a block proposer every governance cycle
  • Both nodes are pre- determined in genesis block and will initially involve primary token holders
  • Quadratic voting allows systematic checks between nodes
  • Visible history on nodes: transparancy of whether they have been voted in the system unanimously or by invitation - reduces risk of treason as reputation and links to other nodes are known

Token Function

  • System transaction fee
  • Execute governance
  • Execute state changes
    EXC tokens are ERC20 compatible tokens. ERC20 are redeemable for EXC tokens upon network launch. Tokens will be non-transferrable prior Mainnet Network Launch

Applications

EximChain is designed to solve inefficiencies in global supply chain. It solves the following issues:

  • Financing
  • Procure to Pay
  • Sourcing
  • Inventory Management
  • Supplier Management
  • Risk Mitigation

Token Allocation

  • Total Supply: 150 million EXC
  • No crowdsale taking place - only private placement
  • Tokens for Team and Advisors are vested for 4 years

Advantages

  • Low hard cap (only $20M!)
  • Solving a financing gap worth over $2 trillion - this ico is highly undervalued
  • Large scaleability as product is highly customisable through SDK layer
  • Strong team with deep knowledge in computer science, blockchain, coding, and security
  • Strong Advisors and Partners
  • Strong project infrastructure including risk analysis (see whitepaper)
  • No direct competition - first public blockchain that supports private smart contract
  • Tokens for Advisors and team are vested for 4 years - ensures their dedication to the project
  • Project incubated in MIT, one of the best universities in the world - instant credibility and strong connections
  • Long-term ICO - tokens are only used for utility reasons
  • Won top prize at the Boston Seagull Entrepreneurship Contest
  • Won innovation prize from the Rice Business Plan Competition

Roadmap




Team



Advisors


Partners

  • Trademanager (www.trademanager.com)
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Great post! One of the top projects I've been watching.

Following you!