Preamble
Our world is evolving and developing at a faster pace, technology is penetrating to the very fabric of our world with no sector left untouched. Mankind is experiencing a very significant paradigm shift in almost all area of life with the birth of the blockchain technology.
Blockchain came with this great potential to revolutionize the economy of the world with the financial sector as it primary target and so far, Bitcoin the first cryptocurrency has really done a great job in revolutionizing the financial sector. So far, the blockchain has bring about a complete and holistic revolution in the financial sector with bitcoin as it's brainchild, this proving to the world that blockchain has the capacity to change our world for good.
However, due to the intimate interaction between the financial sector and the logistics sector, the logistics sector may have the chance of experiencing the next revolution by the blockchain technology.
Introduction
The world economy is interwoven and driven by trade between countries and over 90% of world trade is carried by the shipping industry. Without shipping, the import and export of goods on the bigger scale necessary for the modern world would not be possible. Shipping and logistics in the United States alone according to Logis Whitepaper approaches a whopping figure of $1.5 trillion per annum and as the economy is growing, this figure is bound to increase.
However the shipping and logistics industry is not without it's own problems. These problems have been the crux of the reason the growth in the industry is not at the target rate. However, the blockchain which has beforehand proven it's efficiency is offering a revolution through a platform called Logis.
What is Logis
Logis is an international multimodal logistics applications based on blockchain technology capable of ensuring transparency of freight, providing control over all cargo transportation for the development and revolution of the shipping and logistics industry.
Logis offers a timeless and trustless solution to the underlaying problems that impedes the exponential growth and development of the logistics industry. These problems are outlined as follows;
Large scale fraud
Organizational mistrust between trading companies
Fake Goods
Lack of checks and balances
Unnecessary Intermediaries
High cost of delivery
Weak Turnover
Currency risk
Understated insurance and compensation
Tax policies etc.
Logis platform is created and embedded with features that gives it the capacity to solve the above stated problems by providing a formidable solution module that favours all parties involved in the supply chain from the manufacturer to the endpoint user.
These features are;
√ Trusted, secured and decentralized Blockchain
√ Smart contract
√ Sensors and trackers
√ Secured User database
√ Superb User Interface
√ Customer's development
√ Partnership with international and local companies
√ Masternodes.
Goals and Objectives of Logis
Logis primary goal and Objectives as enshrined in Logis Whitepaper are;
- Ensuring transparency of transaction in the logistics industry
- Creating the most convenient, understandable and uncomplicated system that facilitates interaction of carriers with cargo owners
- Privision of overall control on cargo transportation
- Development of the industry by ensuring proper security and confidentiality.
Application - The world in your pocket
1. Ensuring Transparency for Customers:
The endpoint consumers or users of a particular commodity are most times oblivious of the true origin of the product, thus exposing them to fake and substandard products that may have been injected into the supply chain. The use of such products has caused thousands of death globally and millions of untraceable sickness. However with logis, consumers will have a direct communication line with manufacturer while also having adequate information about the manufacturer, manufacturing site, products specification and information about product usage. Customer's using the logis platform will be able to track the entire transportation route and monitor shipment and temporary storage of the product.
2. Transparency for Auditors:
Since all transactions will be recorded in the blockchain, it is very easy to audit, view the transaction history and also to be aware of every minute transaction detail. This is currently not possible in the traditional system whereby companies hide their contract details and transaction history making auditing a cumbersome task and reducing the transparency of the system.
3. Secured and Fraudless System :
Using a secured and decentralized platform embedded with smart contract, all transactions will be recorded and monitored in the blockchain giving all parties involved in the supply chain adequate information so as to accurately track and document all inventory in the chain. Since transaction are managed in the blockchain,the payment process is transparent, standardized and optimised to reduce administrative cost and minimize disputes.
4. Effective and Reliable System
Providing the ability to monitor performance and load efficiency, Internet Of Things (IOT)is integrated into the logistics platform. Devices and sensors will be installed in all transportation system to measure the weight of the cargo, determine the delivery time and the cost of sending goods. This information is available on the blockchain to increase delivery efficiency and reduce shipping cost.
Primary Advantages of Logis Platform;
- Dynamic Optimization
- Solution synchronized by supply chain in real time
- Open forecasting
- Customer's request data available in real time
- Enhanced visibility
- General and reliable planning and logistics data
- Cooperation
- Confidence in trade
- Transparency
Why must companies Adopt Logis?
Logis is the key to the revolution of the logistics and shipping industry. Early adopters stand the chance of having an edge over competitors as they will become client most preferable choice due to the transparency of the system made possible via the blockchain technology.
Firms adopting Logis platform will eliminate the reliance on paper document circulation and mediation for dispute resolution.
By using Logis platform, logistics and procurement firms will key into Logis solution plan in which application will be conducted instantly and multimodal transportation contracts will be concluded at the best price.
Who can use Logis platform?
The platform offers vast usability and users can span from nearly all the sectors which are but not limited to;
Specialty Products Industries(SPIs) where medicine, food, sanitary pads, health equipment are
manufactured and distributed can adopt the platform to ensure supply chain management and transparency.
Shipping companies to establish checks and balances to reduce
the number of intermediaries and improve the efficiency of the company
Procurement and Logistics Services where all transaction and legitimate product is cataloged on the blockchain at every
point of the shipping journey eliminating the introduction of fake merchandise in the transport chain.
4 . Contractor and Product UserMasternodes and Coin stakers.
Use Cases
Consignor
Mr. Peter a businessman just opened a procurement agency to be supplying computers and other digital accessories to media houses and coorperate companies in his city. His is so skeptical about the operation and reliability of shipping companies having heard stories of fraud and damage of goods. He is looking for a platform that will offer a complete solution that emcompasses reliability, visibility, transparency, optimization and trade confidence. His friend who is a blockchain project analyst advised him to use Logis platform for his shipping business. With Logis blockchain, Mr Peter now has in-depth knowledge of several shipping companies and their previous business transactions. Using the smart contract, he sealed a deal with one of the shipping companies without fear of fraud or breach of contract terms. After successfully ordering the goods he wanted , he was able to track and monitor his goods in real time throughout the entire shipping route.
Manufacturer
Dodge Chemicals , an agro-chemical company specialising in the manufacture of export quality fertilizer and pesticides is experiencing a down turn and are at the verge of losing their major investors. A board of investigation was set up to look into the matter and it was discovered that there is always an injection of fake fertilizers into their containers during shipping making them to lose their customers' trust and patronage. They were advised to use use Logis platform to oversee the shipment of their goods to the Customers. With Logis they were able to monitor their goods , improve their communication link with their customers,reduce cost of transportation, enhanced visibility and reliability, synchronized shipping solution and trade confidence.
Conclusion
Throughout the last 7decades, the shipping and Logistics industry has experienced a general trend of increase in total trade volume. Increasing industrialization and the liberalization of national economies have fuelled free trade and a growing demand for consumer products. Over the last 2 decades, total seaborne trade estimate have quadrupled but as with all industrial sectors, shipping is occasionally susceptible to severe challenges.
However, just like the way Bitcoin is revolutionizing the finance and banking industry, Logis has the same potentials in the shipping and Logistics industry. This , however is not possible without mass adoption of Logis in the industry, thus it is the role of the key players in the industry to understand the technology of blockchain and it's growing potentials in transportation and Logistics. This will encourage the adoption of Logis to move the industry to a greater height.
N/b: LOGIS COIN is already trading in the market and listed in major exchanges. It has a market capitalization of over 216btc($1,516,735).
it's a worthy investment opportunity
Road Map
LOGIS SPECIFICATIONS
Coin name: Logiscoin
Ticker : LGS
Algorithm (POW/POS) : X11/POS
Block Reward: 1-9LGS
Masternodes Collateral: 1000LGS
Masternodes reward: 80-90%
Staking (POS) Reward 10-20%
Block Time : 60 seconds
Total supply : 21,000,000LGS
Premine : 197,100LGS (~0.97%)
For more information about Logis, visit any of their link below;
Official website : https://logiscoin.cc
Explorer : https://explorer.logiscoin.cc/
White paper: https://logiscoin.cc/wp-content/
GitHub : https://GitHub.com/lgsproject/logiscoin
For masternodes setup Guide, visit https://github.com/lgsproject/lgs-install
For Logis official wallet download;
Win32bit : https://git.io/fNH3n
Win64bit : https://git.io/fNH3z
MacOSX : https://git.io/fNH3P
Linus : https://git.io/fNH3D
To Logis coin monitoring Services,
Masternodes Online : https://masternodes.online/currencies/LGS/
Masternodes Pro : https://masternodes.pro/stats/LGS/statistics
Masternodes- Stats : https://masternodes-stats.com/LGS
MNRANK.com : https://mnrank.com/coin/LGS
MNCN.Online : https://mncn.online/coins/LGS