Blockchain and Cryptocurrencies in Transport and Logistics
Blockchain can improve transportation and logistics industry in many ways, from improving freight cargo and shipping cargo tracking; increasing cargo security; tracking of supplier fleet; facilitating peer-to-peer connection between carriers, manufacturers, suppliers and clients; enabling vehicle-to-vehicle communication in autonomous economies; to increasing efficiencies and reducing cost of cargo and passenger transportation.
Many start-ups are also trying blockchain in facilitating of cost-effective ride-sharing, as well as storing and sharing of data to facilitate car rental and buying purposes. Some of the problems in the logistics industry today include fragmentation of transportation since 90 percent of all commercial trucks are owner-operated; severe infrastructure problems and hurdles; problems with shipping food and cold chain products (meat, vegetables, or other products that require specific temperature requirements or treatment); use of outdated systems.
In China alone, logistics spends about 18% of the Chinese GDP, almost twice that of developed world.
Blockchain smart contracts can automate trigger actions such as payment of invoices in areas such as automating both accounts payable and receivable will eliminate hundreds of man hours spent reconciling documents.
And with issues such as crypto stability presenting real challenges for crypto payments, stable coins can still help solve payment value instability problems.
Below are some of the cryptocurrencies in the transportation and logistics industry.
300cubits
300cubits blockchain project is targeting to solve the transport and logistics pain points such as US$23B worth ghost bookings in the container shipper industry through digital booking deposit. Retailers will be able to maximize sales with lowest inventories while the platform can help container liners to avoid the problems of having to sail with un-filled capacity hence minimizing profitability.
It will utilize TEU ERC20 utility token as a as a booking deposit to help lower supply chain costs and eliminate the inefficient therein.
Customers can submit booking by submitting the TEU tokens while liners will be able to confirm the booking using the tokens. The smart contracts does the job of transfer if the expectations and conditions of the contract are met. Coopernic Group members are also using 300cubits' blockchain solution.
Arcade Token
Arcade City is Austin-Texas-based blockchain peer-to-peer ride-sharing service that works more like Uber or Lyft but is based on Ethereum blockchain. It is available for Android and iOS. The startup wants to establish a global network of local driver cooperatives called guilds that can work together to provide reliable and low-cost transportation service in their local areas.
With the app, users can see a map of drivers near them and can even review their profiles and pictures in addition to being able to send them messages directly. On the other hand, drivers can set their own fairs or rates, build own recurring customer bases and offer additional services such as cargo delivery.
BitNautic
BitNautic is a shipping and cargo platform using decentralized technology on which consumers, traders, brokers, importers, exporters, end-consumer and producers, agents, ship owners can trade (in a marketplace) goods and commodities to trade products and ease trading practices all over the globe.
In simple terms, it is a cargo booking system bringing together shippers from different countries as well as acts as a real-time ship brokerage for carriers and ship owners to list ships, update their location, and thus to get shipping leads and find new customers. It will also have a wholesale e-commerce system where people can advertise and trade wholesale goods directly.
The platform will play the role of matching demand and supply of shipping services for all stakeholders. That is because it will first allow the coming together of various providers and buyers in the marketplace, and use technologies such as artificial intelligence on the booking system and real time tracking of ships and cargo as well as a wholesale e-commerce platform.
Users with unexpected need of ocean shipping will be able to view carrier availability and also find others as well as buy contracts from 2 weeks to 6 months. They will also be able to find vessel space and container availability have 100% reliability.
For instance, they will be able to quickly compare offers from different providers and buy reliable and binding contracts.
For those who ship a small volume of cargo and are unable to find an affordable shipping solution, they will be able to list their cargo and the system can help them to consolidate opportunity. Users who are unable to prepare or do not know how to prepare the bill of lading and other shipping documents will be able to find registered agents on BitNautic to help and they can pay a fixed and affordable price.
The system will use BTNT tokens and smart tokens that a buyer can utilize via escrows and lock in smart contracts. The ICO ends on Jul 30.
Blockshipping GSCP
Blockshipping GSCP (Global Shared Container Platform) is a blockchain-based real-time registry platform to facilitate container shipping around the world.
It brings together carriers, ports, terminals, transport companies, and other types of users to help them keep real-time track of all their containers in transit in order to facilitate efficient container handling and effective supply chain management.
There will be two types of tokens: industry players will use the internal Container Platform Token (CPT) to facilitate the clearing and settlement of transactions between them. The Container Crypto Coin (or CCC) sold during the ICO will offer holders value for Block-shipping platform and they can be compensated regardless of whether they choose to sell or keep the tokens.
It will solve such problems such as high cost of container shipping, overcapacity, low rates and security threats in the industry. Besides, it will have revenue sharing model and a marketplace as well as a Market Maker Fund to allow contributors to sell the tokens back to the platform at a floor price.
The platform, whose development has kicked off, is expected to reduce global CO2 emission by at least 4.6 million tons yearly. It is funded by private angels and Danish Maritime Fund.
The platform piloting started in the first quarter of 2018 and they integrated iPaaS in the second quarter and they will be adding smart contracts this quarter.
Blockchain in Transport Alliance (BiTA)
Blockchain in Transport Alliance (BiTA), which is formed by experienced tech and transportation executives, is also using blockchain to help reduce costs whilst at the same time making shipping more efficient.
It seeks to connect companies in the industry and help/lead in the development of common frameworks and standards from which companies and developers can build revolutionary applications.
BoatPilot
BoatPilot is a blockchain marine navigation systems or platform targeted for private yachtsmen and small yachting businesses. It supports augmented reality (AR) function to let the skipper see all data (precise navigation data on coastal objects) incorporated into actual surroundings and they will therefore be able to avoid distractions by the traditional dash. It acts as a very helpful feature during poor visibility conditions, or at night.
The platform also lets users to create user-generated content such as comments, photos and routes and other people in the yachting community can check it.
Advertisers will also be able to take advantage of different parameters such as the type of vessel, number of miles and the geographical location in order to target their audience better.
They already have a fully functional application called BoatPilot for Android.
CargoCoin
CargoCoin is a decentralized global trade and transport platform that wants to bring together traders, freight forwarders, shipping lines, booking agents as well as other participants in the international trade and (e.g. cargo) transport markets.
It will facilitate shipping industry -- affecting containers, bulk, break bulk, liquid bulk and inland transportation -- trucks and railways.
In addition to using smart contracts and eliminating physical paperwork, it will have escrow payments that participants can use between users as well as air cargo -- affecting transportation by planes, drones, etc -- and other types of transportation.
It will act to solve a number of problems in the shipping industry such as fraud (using CargoCoin, users can transact via smart contracts with pre-set conditions), high costs in transportation (elimination of the banks, brokers, agents and other middleman points of failures such as ports, customs agents, couriers and insurers), delays in logistics and transportation (there will be instant exchange review and approval of documents and payments between parties in a smart contract), lack of trust among participants, lack of information safety and security, as well as poor documentation and information storage.
CarTaxi
CarTaxi is a blockchain platform based on Ethereum and which provides automated service for car towing with trucks such that trucks are able to be connected together regardless of their location, using a mobile application. It is now in use in more than 20 cities including in Russia.
It works by a user downloading the application to their smartphone and entering information about their vehicle and choosing to pay with card or cash. The person seeking a service makes an order by clicking or tapping on the "Create Order" button for a tow truck service and the system will then appoint a suitable tow-truck depending on the car's weight, clearance and damages.
When the customer orders and the optimal tow is selected (being the ETA of the tow truck as well as based on other parameters), the supplier receives the order request and on accepting the data about the new order, is added to the blockchain using the function of the smart contract. The supplier can move on and start order execution.
The app also lets drivers to make phone call and access data about the device location. The tow truck will come and provide the service needed to the driver.
The company is currently promoting the service to the U.S. and the Chinese markets and looking for representation in the Indian and South America markets.
Car Vertical
Car Vertical is a history registry for vehicles, based on the blockchain. With it, a user can check the history of vehicles such as whether it is registered in the directory of stolen cars, check its authentic odometer reading at different times in history, get summary data about accidents the car was involved in and check for the car's manufacturing faults and recalls if any.
You can also use the platform to figure out the possible location of the car's VIN, analyze the car's maintenance log and upcoming service and prices, view photos of the vehicle at different periods of exploitation, and read history of the car's activity and previous prices.
Basically, they get all the data from various points including national and private registries, various databases and even OBD devices and from users themselves. It would help users looking for information about cars before purchase or may be if there are re-financing interests. Buyers will be able to verify if the information provided at the buying location is correct. They then verify this data and confirm reliability and then have it stored on the blockchain.
Cube
Cube is a autonomous car blockchain security platform that secures autonomous mobile networks using blockchain. It targets at solving security concerns for a transportation market whose needs for connectivity (via information and data) is increasing.
For instance, since more car manufacturers plan to have in-built CDMA for connectivity by the year 2020, there will be increased threats for cyber-security. It will be a multi-layer attack protection system (blockchain, cloud and end-point) based on AI, quantum hash encryption and other end-user protection techs.
The cube box installed on cars will hook to Cube Auto Blockchain that connects to server through a firewall. The box also connects to cloud via Check Box and Sandbox to secure car user data against hacks and attacks.
DAV
DAV network is a decentralized marketplace platform that allows users and participants to buy or sell transportation services. It integrates into vehicles, drones and ships and helps them to connect to or discover each other, communicate with each other, as well as transact with each other using DAV cryptocurrency.
With the platform, owners of autonomous vehicles from various locations are able to put or place them on the network. It will also facilitate connection of these owners and vehicles to passengers looking for ride hailing services. It will also facilitate decentralized manned deliveries such that people can send and receive packages with the push of a button through a decentralized platform or system.
In the end, in addition to facilitating transportation of passengers and goods, it could help improve convenience of city transportation.
The company raised 40,726 ETH in an ICO that concluded on June 25.
DAFZO
DAFZO is a crypto-based platform that uses its own Patent International Trade Finance technology to facilitate importer-exporter peer-to-peer transactions as we;; as cross-border transactions between parties, banks and legal houses. It will have low transaction fees that are as low as 1% as compared to banks.
And while banks take the hefty collateral amounts as high as 150% of the LC value which makes it hard for SMEs to access because of limited liquidity, the system will have no issues LCs without any collateral or any sort of security. It will facilitate instant issuance of LC without need to wait for 15-20 working days; use AI to guide and analyze sales agreements among importer/exporters as well as a dispute mechanism for international arbitrage among parties.
It will facilitate e-stores border-less shopping from global e-stores as well as lower cost for users who will also get incentives for using the system.
The exporter and importer drafts the agreement in the ecosystem and the importer pays to Dafzo in DFZ, which are then sent to exporter. If fiat, the amount is sent to escrow. The system then issues an instant LC and notifies the exporter, after which the goods are sent and confirmed by importer.
Deep AERO
Use of drones is likely to increase all over the world in the coming years, even in the public domain. Deep AERO is a AI driven, rules-based airspace intelligence platform for drone traffic and operations management, that also facilitates Vertical Take-off and Landing (VTOL) air-crafts transporting of people and goods.
The platform will facilitate sharing and selling for flight plans. In addition, active or planned flights will be able to adapt to changes in airspace conditions including wind, visibility and temperature, for optimal performance. Inter-vehicle or platform communications will facilitate situational awareness with real-time notifications of nearby traffic based on flight plans and live telemetry.
There are many cases for such a platform including doing aerial surveys, facilitating of package delivery, facilitating aerial transportation, facilitating photography and film making, facilitating pinpoint pesticide delivery, assisting in forest fire fighting assistance, monitoring of vehicle traffic, helping in maintenance and safe inspection of large-spread (oil and water or gas) pipes and utility (sewer and power lines).
The system could also help in the maintenance and safety inspection of high-rise commercial buildings.
It will also act as a marketplace for drone related products and services.
Drivero
Drivero is a peer-to-peer car-sharing or car-renting platform which completed its ICO on May 10. The startup wants to ensure you get a car to rent while ensuring that the car is taken care of by installing the necessary software.
Drivers download and install the app, register on the platform by uploading their ID and license for approval.
Ride-seekers, on the other hand, can access rides on a variety of cars by reserving a car of their choice, even those that they may not be able to own after all and they will not have to worry about fuel, insurance or maintenance expenses and can pay for rental via ETH/BTC (they can top up their wallets with credit card) or with a Credit or Debit Card.
Dovu
Dovu works more like a data sharing platform and provides a unified token, wallet ( iOS and Android), marketplace where people can earn and spend mobility-related rewards. The blockchain platform will facilitate connection of cars and enable the sharing and transferring of data from among users while maintaining its security and user privacy.
With Dovu, people can earn Dovu tokens for sharing their mobility data or making small changes to their travel behavior. They then can spend the earned tokens on mobility-related products or services within the ecosystem. Users can also create their own tokenized mobility service with peer-to-peer transfer features between wallets.
For instance, users can share where they drive and companies can access that information to provide services.
Fr8 Network
Fr8 Network is a blockchain system that basically tracks shipment to coordinate multi-party workflows. Rather said easily, it lets parties to track location, state and contents of the shipment and to document the standards, all with the benefits of lowering costs of shipment and eliminating inefficiencies and other problems/difficulties.
The platform will host dApps such as the Cockpit -- a web-based shipment management tool; Board -- which is an algorithm that matches the workflows using smart contracts; the Fr8 Browser Extension that enables quick access to platform and crypto wallet; and Fr8 Carrier App that has real-time shipment contract updates.
It works by the user entering shipment or capacity, then the user reviews matches in the web app and selects contractor and ships with a single click.
The protocol defines four components of the shipping, credit, or insurance contract -- data standards, payment standards, regulatory standards and cyber security standards.
Currently, they are beta testing the platform in the United States over-land freight market where carriers and shippers can use smart contracts to coordinate shipment transactions.
Helbiz
Helbiz is a bike and car-ride and private jet-sharing rental service that uses Helbiz tokens to facilitate network transactions. With it, users can rent out vehicles and jets directly in a peer-to-peer manner, from owners on the blockchain through a phone app and without manual involvement.
Drivers are able to list their own vehicles on the platform for renting it out. They are able to choose their model, add photos and details and even set pricing and availability of the car. They are also able to choose the specific terms and conditions for their listing, for instance the required age, driving history, Helbiz score, credit, min level of insurance, rental length etc.
The company with then install the software and lock within 15 minutes (drivers are able to unlock with their phones). The car is covered on the Helbiz platform. The driver can then wait for clients to book their car on the platform, so they are able to pick them up. They then get paid by PayPal, Wire or Helbiz coin.
The platform will verify the identity of both owners and drivers, for instance by using facial scans or fingerprints.
IBM
IBM is working with many companies to improve supply chains in many ways through its blockchain technology.
Areas of application include tracking supplies, lowering cost, streamlining restocking processes, and improving efficiencies.
Mass Vehicle Ledger Ecosystem (MVL Ecosystem
Singapore-based Mass Vehicle Ledger Ecosystem (MVL Ecosystem) that helps participants and users to access core data related to driving, traffic accidents, repairs and other car-related transactions into the blockchain.
Individual driver, repairman, dealers, insurance salesman, car makers and related association or organizations will get incentives for recording and sharing valuable vehicle data on the platform. The amount of incentives will increase with the increase in the amount of vehicle data stored or shared. Participants in the ecosystem will also be able to validate the information submitted by users, in order to ensure transparency and accuracy and consistency of information.
However, the system will use GPS sensors, acceleration, and geomagnetic sensors are used to collect data during the initial stages of the project.
Such data can help provide better service at low prices for users needing rides and drivers.
The startup with have a mobile application during the third quarter of 2018.
McFly.aero
McFly.aero is a incubator for emerging urban air taxi markets where users are incentivized for working together for innovations and working together to facilitate affordable flight and airlift services. They currently have a consortium of 10 Companies, 3 VTOL (vertical take-off and landing aerial vehicles) providers, 37 Cities, 1000 people and have already completed 15,000 tasks. That's all done in the last four months according to their website.
So they are thinking of new technologies in the flight or airlift industry such as VTOL (minus UAV delivery drones, 1-seaters, gyrocopters and jet packs).
They hope to start deployment of the air taxi grids by 2020. Currently, Bartini and Hepard, who are participants in the consortium of companies, are preparing for test flights while entrepreneurs are preparing the infrastructure in the cities. Additionally, Drone Employee creates smart contracts for autonomous missions.
The token serves to incentivize participants of the Incubator’s community
The company also incubates variety of technologies including systems such as navigation, autonomous driving, manufacturing techs and other R&D.
Parkgene
Parkgene is a global peer-to-peer parking service on the blockchain and which will act as the AirBNB for parking, over blockchain. It connects people who own parking spots with drivers who are looking to park.
It will allow providers to list their packing space and availability, set their pricing and parking spot, so that they can then rent it out to start making money. Those in need of a parking space can find them from providers (by browsing through available parking sports to identify the best one) using a mobile application (iOS and Android).
When a user is interested and books a spot, owners are informed and they can get paid in their GENE wallet. In addition to making it easy to find parking space, it will make it up to 10 times cheaper.
The wallet can store GENE, Bitcoin, Ether and numerous other coins and allows you to send, receive and buy GENE with credit card and well as exchange GENE for fiat.
Ride My Car
Ride My Car is a ride-sharing platform that works like any other pre-booked transportation and ride services. Users can search for rides and pay with RIDE cryptocurrency. Users can also sell unfilled seats to passengers taking the same journey and earn RIDE tokens.
Riders book for a ride service using the website or phone app and can find a match for people traveling to the same location and book a seat in that same vehicle.
The carpooling service will help users to save money and make friends.
SKYFchain
SKYFchain, which is a spin-off of Skyf -- world’s first cargo robots manufacturer -- is a blockchain based financing tool for cargo robots (unmanned logistics) industry built upon a powerful unmanned aerial vehicle or SKYF Unmanned Aerial Carrier that will be able to deliver packages over long distances. It is the unmanned logistics operating platform for clients of the SKYF drone.
With unmanned logistics set to eliminate labor costs and save up to 50% by 2020, the platform is targeting to connect clients to logistics businesses and transportation providers and manufacturers (trucks, drones and ships) on the same platform to better unmanned supply chains.
It will also support Robots Leasing & Insurance.
SKYFchain uses SKYFT token/cryptocurrency to facilitate transactions on the network.
Their pre-sale sold in just 5 days, raising $2 million.
ShipChain
ShipChain uses "Track and Trace" platform that is federated in trust-less, transparent blockchain contracts to trace products from point of production to end point or the point of use. The shipping market is expected to grow to $15.5 trillion by 2023 and 92 billion tons of freight transported by 2024.
The system is based on open API architecture with integrated freight management software. The system is expected solve shipping freight issues such as cargo theft, which is estimated to be approximately $30 billion per year and rising; poor tracking characterized by fractured multiple carrier-system; high cost among middlemen and gatekeepers which goes up to 50%; and lack of or poor incentivization of shipping chain participants such as operators.
The platform uses Ethereum blockchain to track individual encrypted geographic way-points across all smart contracts. These side-chains will also store and handle information about loads, geo waypoints, and other basic information.
The marketplace also gives users the full visibility into available capacity, user ratings, and pricing data.
They currently have partnership with Salesforce App Exchange, allowing companies shipping with Salesforce can plug directly into their technology.
It will use ERC-20 Token to speed-up payment remittances, ends double spending problems, and incentivizes fragmented stakeholders.
Tracoin
Tracoin is a global marketplace for land transportation system. The ERC-20 standard token will be the means of paying for land transport services within the ecosystem. The wallet will be a desktop and well as Android and iOS application (to be released in the Q4 of this year).
With the app, drivers and transportation companies will be able to list their offerings while passengers can unlock access to driver profiles, special offers from transport companies, and other features and services. That way, passengers can access on-demand fleet of available vehicles and transportation companies can access up-to-date market research.
The system will also allow for reviews where passengers can review transportation companies.
Zeew
Zeew is a Ethereum blockchain platform that allows stores or Internet shops to access and connect to nearby available courier in order to transport their package to clients immediately. Using the cryptocurrency, businesses will be able to access executive discounts and premiums as well as pay for ads and services.
In other words, it works like Uber service for packages and allows SME's to send any package in minutes.
The company has offices in Malta and Latvia.
The ICO will end on August 20.
