The circumstances in the good and drink segment is not extraordinary. Not at all like what I state, this section of the world needs the blockchain technology advancement. Blockchain technology is the most significant instrument for keeping the important records in the long procedure which proceeds until the creation and packaging of any item. Volum is essential for deciding the area of the item particularly in the understandings made between nations. Any item that is created and goes through numerous phases until it gets to our table. Volum clears out these stages and automates transactions with blockchain innovation and gives extraordinary preferences to clients and organizations.
VOLUM has created a Multi-Sector Enterprise; Business-2-Business (B2B) Platform which will allow companies to rapidly scale and grow internationally by leveraging all of the power and benefits provided by blockchain technology. The VOLUM platform will run exclusively on VLM utility tokens.
VOLUM’s blockchain platform is built on the Ethereum blockchain and will be fully capable of executing smart contracts. The final product of utilizing the VOLUM ecosystem is that organizations will have the ability to scale from nearby markets to worldwide markets a lot easier and quicker, and they will have a lot more prominent control of their supply chains. This is useful for everybody.
Volum platform working principle
The profile service of the Volum Blockchain is made available to each platform user. Users can start their operations first by performing the kyc and aml procedures and passing that stage outrightly. This kyc (know your customer) and aml (Anti Money laundering) system is necessary for both parties of the platform to know each other and to prevent scam operations in any form at all. Users can view their details such as business information, tax, factory through this profile and can also enter the details of businesses. Escrow intelligent contracts are organized when the business orders products from any factory. These smart contracts prevent the mutual transfer of money until the goods reach the buyer. After the product reaches the buyer, it presses the confirmation button and the entire charge is transferred from the buyer's Volum account to the seller's Volum account.
Organizations who employs the functionality of the Volum platform will be able to carry out a wide range of blockchain transactions including:
- Purchase Orders
- Legal Contracts
- Regulatory Compliance
- Shipment Management
- Letters of Origin
- Customs Documents
- Inputs/Outputs and Inventory Ordering
- Delivery/Parcel Tracking
- IoT Monitoring and Reporting
- Big Data Analytics
- Inputs and End-Product Tracking/Traceability
Benefits you can get from the Volum platform will include:
• With the volum insurance system, platform users can keep records of the goods they have and send these records to the insurance company via smart contracts. The number is sent into escrow contracts before the goods are stacked. If there should be any occurrence of misfortunes, beverage organizations may gather these assets. Particularly in costly items, for example, matured wine or champagne, this circumstance offers incredible favorable circumstances to firms or enterprises.
In a rather nutshell, there are several other advantages of the Volum platform and I will conclude with the fact that the Volum platform enables businesses to get rid of paper wastage and make large amounts of personnel savings.
It is not uncommon to measure the usefulness of a project by the problems it plans to tackle. Start up businesses, and even businesses in general face a lot of challenges. From finding suppliers and distributors to, cutting cost and offering excellent customer support services.
By leveraging on blockchain and self executing smart contracts, Volum aims to simplify supply chain management, and other challenges faced by businesses, by creating a B2B platform which will allow companies to rapidly scale and grow internationally by leveraging all of the power and benefits provided by blockchain technology. This will consequently boost affiliated companies into bigger and more productive enterprises.
You can use this information for a detailed study of the project:
Twitter : https://twitter.com/IoVolum
Facebook : https://www.facebook.com/volumproject/
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