The Blockchain is rapidly conquering the world, and there are no doubts that eventually, every sphere of our life will be “blockchainized”. Logistics is yet another industry that has “fallen victim” to this genuine technology.
A Swiss-located technology company known as Smart Containers Group, creating safeguarded containers for delicate products, decided to combine distributed ledger and IoT (Internet of Things) technologies to take global logistics to the next level.
Why is their idea reasonable?
Smart containers produced by the cognominal enterprise are an ideal solution to transport perishable goods such as foods, medical products, and pharmaceutical preparations. All these goods must be transported very carefully and under specific conditions with controllable temperature, humidity, and other parameters. The authors of the Smart Containers project believe that the Blockchain is the right solution to address these challenges. Once such containers have the appropriate software, it will be very easy to track them in any corner of the world while ensuring total transparency of all operational data and maximally quick delivery. Smart containers will be operated and controlled by smart contracts in the real-time, and all operations will be recorded on the blockchain, thus excluding a risk of unfortunate incidents, which are so typical to the logistics business. What are these incidents?
The Smart Containers R&D team states that modern logistics is plagued by one very serious problem: containers used by logistics companies fail to save sensitive goods owing to subpar transportation and storage conditions. For example, according to the World Health Organization, at least 40% of transported vaccines get spoiled because of bad storage conditions and transportation delays. This reduces the effectiveness of vaccination campaigns and causes significant money loses (approx. $2.5 billion annually).
Another pain in the neck to all logistics companies is red tape. To send a batch of goods from some point A to some point B, companies have to do an ocean of paperwork, which only expands the periods of delivery, increases its cost, and simply irritates everyone involved in the process of goods transportation.
To mitigate these inefficiencies, Smart Containers introduces a decentralized ecosystem for the logistics sector on the top of Blockchain. A new network will be dubbed Logi Chain. Each logistic unity (a parcel or a container) reflects in the blockchain like a virtual chip.
Participants of a deal can attach all essential documentation to the chip and make it available to relevant parties of a transportation process (dispatchers, customs inspectors, warehousemen, etc.). These electronic papers will be kept either on the open blockchain like Ethereum or on the permission blockchain like Fabric or Corda depending on the level of documents confidentiality. This data will be accessible in the real-time, empowering the participants to take prompt actions should any problems with a delivery occur.
As a result, all the parcels/containers will turn into autonomous, traceable objects stuffed with IoT sensors, which will regulate environmental conditions inside a container (temperature/humidity and so on) and ensure automated billing and reporting.
How Will The World Benefit From Smart Containers?
The Smart Containers blockchain startup offers the following benefits to participants involved in the logistics business:
- An ability to easily track a parcel anywhere in the world;
- An utter transparency of all operations within the network;
- Speedy deliveries;
- Simplified customs formalities;
- Simplified processing of accompanying papers;
- The minimization of CO2 toxic emissions;
- Payments in single cryptocurrency;
- Accessible information on the freight traffic;
- Advanced software for containers and parcels running on the Blockchain.
Though an idea behind the Smart Containers project is quite interesting, there is a bad apple, spoiling the whole barrel: it will be supported by two digital coins simultaneously. I personally hate when blockchain startups use such a complex approach. I think it can only result in a great mix-up, confusing both investors and platform users. But never take my words as an investment advice, do your own research.
OK, the Smart Containers project will be fueled by SMARC and LOGI tokens:
- SMARC tokens will be used to support a smooth scalability of FoodGuardians and SkyCell – the parts of Smart Containers Group. Holders of SMARC tokens will have 20% of future profits and exit profits in ETH.
- LOGI tokens will serve as a tool to stimulate the Logi Chain network (say, it will be a coin for transactions processed by smart-contracts). Users can use this coin to have access to the platform services and pay for the whole delivery, including the preparation of all necessary documents and uploading them on the Blockchain.
Their ICO public sale is taking place right now and will last up to June 30th; the minimum purchase is USD 500. Both tokens are on sale during their public ICO. They accept BTC, ETH, and Fiat. SMARC token price is US$0.432, LOGI token price is $0.285 USD. Both tokens are sold in 3 tiers with discounts cascading from 15% to 10% to 5 %. First come – first served.
The Smart Containers initiative is a spectacular example of how the blockchain technology can be helpful in a live situation and how it can improve a certain business segment – logistics. Having short-lived food and pharma products properly stored during transportation is crucially important for all parties involved in this process, including the end user – you and me. Hope, the project will be a success because it acts in the interests of ordinary people – at least, to my mind.
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Authored by: Will.Smith (@iwgeiw)
ETH address: 0x2756ccfe1f1ec0a7a7be8f8e2593165eb2b33fc3