How Blockchain Technology Will Change Logistics Forever

Blockchain Technology

The word “blockchain” has become quite common since it’s introduction in 2008. After being initially embraced by the tech community, it has now caught the attention of businesses across industries including finance, healthcare, manufacturing and even logistics. In essence, this distributed ledger system allows secure transactions without third parties or intermediaries.

In this article I will analyze the impact Morpheus.Network could have on the logistic sector.

What is Morpheus.Network?

Morpheus.Network is a supply chain SAAS middleware platform seamlessly integrating legacy and emerging technologies (e.g. blockchain). They provide companies with shipment and precise item data to optimize and automate safe and secure supply chains which saves time and money.

What is their SAAS platform?

Software-As-A-Service (SAAS) means that a software can be accessed without installing or maintaining it. All features are accessible via the internet which helps to avoid complicated software or hardware problems.
In context entities shipping and delivery data is tracked which enables companies to check thr products location, driver license and detects product defects at an early stage. This can avoid consumer and quality problems, no to forget time management improvements.

How could Logistics be improved with Morpheus?

The World Economic Forum has declared removing supply chain inefficiencies as the number one problem to solve to stimulate global growth,
increasing global gross domestic products by over $2 Trillion USD. GDP is the total market value of all the finished goods and services produced within a country’s borders in a specific period.
These inefficiencies cover mislabelled packages; inefficient use of packaging materials; bar code errors; missing delivery details; incorrect product selection; disregarded government regulations and high bank fees.
Besides more product information Morpheus software fills out the necessary government regulations automatically and avoids bank fees as the transactions are Peer-to-Peer via blockchain meaning there are no third parties like banks involved. Mislabelled packages, inefficient packings, bar code errors, missing delivery details and disregarded details can be solved immediately as all information is always accessible and can lead to more comfort for both the consumer and delivering party

Should I invest in Morpheus?

– Blockchain technology is still very early it could be risky

+ High class team (Former CEO of DHL, the founder of the ā€œBlockchain Technology Club in Ontario, a former consult for IBM, Massachusetts Institute of Technology, National Bank Financial)

+ Limited supply of 47,897,218 tokens with 99% being in circulation

+ Political advantage over biggest logistic competitor Vet because of Anti China policy to deny collecting data

+ SAAS is easy to use and requires no computer knowledge

+ Possible to completely automate shipping from end to end

+ Saving costs by tracking entity from distance A to B, complying with all regulations and avoiding bank fees

+ Optimized timing and quality will lead to more comfort for everybody

Conclusion

The world we are living in today aims more and more to become optimized in all parts. With that in mind I dont think its farfetched to expect the same thing for logistics. Saving costs, tracking and being able to provide more comfort for clients is something companies strive for.

I know that blockchain technology is still at an early stage but this is exactly the time where good investments are possible. Morpheus.Network could have a big impact on logistic optimization since there are not many competitors and their future steps seam well thought. I believe that blockchains could replace existing technology in some sectors and therefore I will keep my eye on Morpheus.

Also Read: What Is Fintech, And Why Are They The Future Of The Financial Sector?

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