ShipChain[Contest]: The Trustless & Transparent Universal Logistics Platform Solution

in #shipchain6 years ago

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Even though the good(s) themselves have changed over the past few centuries, the service itself has roots dating back to 3000 B.C. With technology as our catalyst, we are taking decentralization and disruptive platforms to a global stage. To put this in perspective, digital flows exert a larger impact on GDP growth compared to traditional, trade in goods. However, these trade in goods are still important, the logistics industry adds about $8.1 T in global value.

With our current inventory accounting and tracking systems, we sometimes have difficulties tracking, estimating costs and revenues, dealing with lucrative middlemen, and foreseeing changes. Not to mention the annual, and increasing, $30B loss in cargo theft.

ShipChain: The Trustless & Transparent Universal Logistics Platform Solution

As societies transgress away from centralized, inefficient tracking methods, ShipChain allows us to usher in an age of transparency and efficiency using blockchain as its backbone. Say goodbye to the days of complex, confusing supply chains. ShipChain gives power and protection back to businesses and delivery service providers.

Track and Trace Solution


Products can be tracked and monitored from the time they leave Point A to the time they arrive at Point B. The entire process is safe, efficient, and completely transparent. It accomplishes this by “ tracking individual encrypted geographic waypoints across all smart contracts.”

A smart contract enforces a relationship with cryptographic code. Put differently, smart contracts are programs that execute exactly as they are set up to by their creators. The ‘creators’ being the businesses. The businesses have complete control over their shipping, which reduces costs, prevents fraud, and results in overall better business. The smart contract is visible, completed, and stored on the main blockchain.

This is beneficial to businesses because they will have complete autonomy over their logistics, in addition to the transparency and security ShipChain provides them. End-consumers also benefit because they will be paying less because the logistics cost less. It is a win-win for B2B and B2C.

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What’s Next?

ShipChain is creating more connectedness among economies, we will soon be able to transcend geographical, socio economic, and political boundaries from doing a broad range of business. In 2018, ShipChain will focus its energy on gaining publicity, integrating the Track & Trace platform with ELD devices, testing their web platform, and allowing carriers to develop sidechains.

“If the rest of the world had increased its participation in global flows at the same rate as the top quartile over the past decade, world GDP would be $10 trillion, or 13 percent, higher today.” -McKinsey Global Institute

ShipChain is essentially scaling the logistics behind global flows. By 2020, they plan to sponsor app development on their blockchain. They are excited to announce their public sale coming mid-January. You can read more in their Whitepaper. ShipChain will take transport and logistics to the next level.

Thanks for reading!

shipchain2018

Source: https://steemit.com/cryptocurrency/@originalworks/90-steem-submission-bonuses-sponsored-writing-contest-shipchain-io

Sources:
https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/digital-globalization-the-new-era-of-global-flows

https://shipchain.io/

https://www.coindesk.com/information/ethereum-smart-contracts-work/

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