An Overview of ShipChain A Sponsor of Decentralized 2018
I love the way blockchain technology is disrupting almost every industry at the moment.
ShipChain is the latest one to disrupt the transport and logistics sector.
It has to be noted that ShipChain is a sponsor in the upcoming Decentralized 2018 blockchain conference in Greece.
We all know how there have been many problems affecting the transport and logistics has been having problems with poor tracking, poor or no accountability and obviously the insane charges of the middleman!
In this post, I will be talking of the way ShipChain is solving the problems that have been persistent in the transport and logistics sector.
I will have to define Shipchain before we go any further!
What is ShipChain?
ShipChain is the new disruptive blockchain technology that aims to fully integrate all systems of the entire supply chain from when a shipment leaves the factory to the final delivery on the customer's doorstep.
Let me quote the vision of ShipChain from the website/White Paper
"ShipChain was founded with the mission of solving the greatest problems facing the logistics industry today. Our solution requires deep technology, but our vision is quite simple. Imagine a fully integrated system across the entire supply chain--from the moment it leaves the factory, field, or farm--to delivering the finished product to the customer’s doorstep; federated in trustless, transparent blockchain contracts. This is ShipChain, the future of shipping."
From white paper.
It has to be noted that moving products from one place to another is what supports the entire modern civilization. Let me give you an example below.
The computer I am using right now was manufactured in the United States and it was shipped to Uganda by a shipping company.
You can check out this image below to understand how big the transport and logistics industry is.
What problems have affected the Shipping Sector?
1.Poor/bad tracking
It has always been hard to track products from the factory to the final end user(customer). There has been no efficient way to monitor the progress of a shipment, in the end, some products get lost along the way!
This poor/bad tracking is solved by ShipChain platform that allows for unified tracking across the entire supply chain, between all carriers.
2. Lack of Transparency
The lack of transparency is caused by poor data handling by some brokers! There are instances where some brokers are incentivized not to share accurate data! This results in some brokers not willing to tell shippers the exact details(carrier and driver) of the shipment.
ShipChain will ensure that
Every step of the supply chain process is documented and recorded on either our main blockchain or our sidechain, creating full transparency and ease of communication.
3.Lack of Accountability
The US Federal Bureau of Investigations estimates annual cargo theft losses exceeding $30 billion USD in 2016 and rising, with an average theft value of $190,000
The lack of transparency and poor tracking lead to lack of accountability! I can assume some brokers withhold information so that they can easily divert or steal the shipment!
There will be increased accountability whereby operators are rewarded for efficient transport routes, and for delivering goods on time.
4.Middlemen Fees
You all know that the blockchain technology was introduced to remove the middlemen insane fees!
The brokers and forwarders charge insane fees of up to 50%. The higher the fees you pay the faster they promise to work on your shipment. This increases the overall cost of shipping.
The beauty of blockchain technology is that brokers are no longer required but can be used when necessary. Smaller carriers can operate independently.
THE SHIPCHAIN TEAM
ShipChain has got a really experienced big team.I will only talk about a few top team members and give you a link so that you can checkout the rest of team.
1.JOHN MONARCH Chief Executive Officer
John is the founder and CEO of Direct Outbound, one of the fastest growing fulfillment/3PL companies in the country, and one of the largest in the Southeast United States. He is intimately familiar with the logistics industry in all aspects, from postal logistics and parcel private carriers to air, sea, and intermodal land freight.
From ShipChain Website
He has experience in managing companies as stated above,he is also CEO of another company named Connexus Inc.
You can read more about him from his LinkedIn and Twitter accounts.
2.LEE BAILEY Chief Technology Officer
Lee is a full-stack developer, blockchain consultant, and entrepreneur. He has experience architecting, securing, and deploying distributed processing systems, including analytics toolsets for high budget advertising agencies, smart contracts for a variety of decentralized applications, and a high speed cryptocurrency trading platform.
From ShipChain Website
He is also the Co-founder of Net Prophet Technologies,Founder of Annex Tracker, you can read more about him from his LinkedIn and Twitter Accounts.
3.SAM RUSANI Chief Revenue Officer
As a serial entrepreneur, blockchain advocate/investor, and talent manager, Sam has worked with some of the biggest brands in the world, such as Sony, Fender, Virgin, Universal Music, Ogilvy, Heineken, VISA, and Mercedes. He has also advised international companies and negotiated trade deals on their behalf.
From ShipChain Website
He is also and Advisor for RedPen, Founder Pure Rock Group, Managing Director 5500 Miles and more which can be read from his LinkedIn and Twitter Accounts.
You can also read more details of the whole team by following their respective LinkedIn profiles on the ShipChain website.
In conclusion, ShipChain is really revolutionizing the logistics and Transport industry.
ShipChain is a proud sponsor of Decentralized 2018 and event that will take place on November 14-16, 2018 at the Divani Caravel, Athens, Greece.
You can read more about this event by checking out the following links below.
Website: https://www.decentralized.com/
Speakers: https://www.decentralized.com/speakers-2018/
Promotional Video:https://www.youtube.com/watch?v=SiVm2RO51bE
University Of Niscosia: https://www.unic.ac.cy/
Sponsors: https://www.decentralized.com/sponsors2018/
Press Releases: https://www.decentralized.com/blog/category/press/
Buy Tickets: https://www.decentralized.com/conference/register/
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