Libellum is a supply chain verification platform which facilitates for product certification, testing, and compliance in manufacturing and logistic industries. It will create a secured relationship with suppliers while making importing and exporting easy since it can manage everything on a one single platform. The main features of Libellumis platform are identified as,
Web platform and Mobile application – It will make a list of all verified and compliant suppliers.
Innovative L-ID system – It will make easy the product certification
Digital ID system secured by blockchain technology – It is unique and encrypted.
There are some drawbacks in the existing systems such as,
Complexity
Bureaucracy
Having large databases with thousands of manufacturers
Smaller testing companies are not using efficient and secure system
In order to verify the authenticity of certifications, buyers have to call to the testing company or log into the database of the testing company.
Testing companies do not share their database with others.
It may have to incur some cost to have an access to the database of testing companies
Moreover there are some issues in the existing social context as well.
There are unknown testing companies
The reports issued by Chinese companies are in Chinese language and therefore it is difficult to understand and verify by the customers who are in around the world.
It is difficult to find the information about the suppliers. In some cases though it is found the information about the suppliers, they are incorrect or inaccessible.
These problems have been successfully addressed by the Libellum in following manners.
By providing One platform for all concerning parties
By allocating a main Identification Number to each certificate in order to simplify the processes
By introducing the app and the mobile application. It is easy to scan the QR code with the app and the mobile application.
Web App and Mobile App provides the accessibility into following data,
Manufacturer list – Manufactures can be filtered in terms of Country, Region, & Industry. In this case Libellum will have a go to platform since people look only for verified suppliers.
Certification/test reports list – All the industry certifications are listed in this report. Users of the certificates can review them and order them from here. Further the users can filter the certificate the certificate by type, industry or country.
This will connect both suppliers and manufacturers to the end user.
Additional functions – It will be continuously added the new features with the partnership with third party laboratories, customers and suppliers.
There are two core technologies to ensure the safe for the buyer.
A digitally encrypted QR code – It has all the supplier information and it is verified by third-parties.
Stored data on Libellum‘s blockchain – It allows for the data to be transparent and immutable.
The Blockchain technology is used by Libellum in three ways,
Public Blockchain - Public information such as information regarding supplier and certification will be stored in this place.
Private Blockchain - sensitive and key data will be stored. In order to access the data stored in this blockchain, it is must to have Digital ID. It reduces the data breaches by third parties.
Smart Contracts – It helps to communicate between blockchains and perform specific tasks.
Libellum can enjoy with all the features of blockchain, since the core of this project is supported by the blockchain. Those features of blockchain can be identified as,
Security – Though everyone within the network has access to the records, the existing records cannot be edited or deleted by anyone.
It solves the crypto currency problems
The blockchain is implemented in three layers namely shipment tracking, labellum ledger and network.
Network of suppliers, manufacturers, testing companies, and buying offices are connected through the Minimum Viable Product (MVP). Its features are identified as verified supplier database, product certification validation via L-ID™ system, Libellum wallet integration, buyer data secured by Blockchain and E-commerce API Integration. It offers different functions other than the fundamental ones already exist. The main tasks of MVP are identified as,
Testing uploading documentation
Testing certificates to the Blockchain
Testing work on usability of the platform in general
The early adaptors of this project will use MVP to onboard. Further the followings can be identified as the mandatory things to be done in relation to the Development of the Web App Alpha Phase.
Development of the back-end of the platform
Designing of UX/UI
Conducting Code-Audits by a Third-party
Bug Bounty – It offers the community rewards to find the bugs in the system
Establish a database of suppliers and Certificate information
Integration of QR Code with existing certifications
Launching the wallet
The API is a vital component of Libellum. It facilitates clients to easily add the data of the platform to their own system. First of all it should be developed the API code. It will minimize the effort of Third Party Inspection companies, since it provides API access to the platform. The third parties have been granted a read only API access to ensure that there is no any possibility to happen data or security breaches. In order to have cross shared data it has planned to build up a partnership with major supply chain companies which are based on the Blockchain. It will be helpful the clients to keep a track on special data of shipments such as temperature with the assistance of the app. It will make easy the data management with the development of API.
Though the Libellumis has built up a partnership with major partners, it cannot be disclosed. But it can be said that they are the Top 10 Testing Companies.
E-Commerce will help to seamlessly integrate the platform with the clients to facilitate to cross-check the products from verified suppliers. E-Commerce Plugins with Libellum aim to,
Ensure that legally complaint products are uploaded to the E-commerce store
Save the time and money in checking each individual products
Reduce the time and costs of e-commerce companies such as Amazon and Shopify in verifying the compliance
Although the e-commerce has captured a small share of market so far, there is a huge potential of to growth.
The most of the products in the market require certain certifications and standards in order to survive in long run. The integration of this platform with the stores creates a transparency of suppliers and their products since it facilitates to verify the origin and quality of suppliers and their products. The retailers can trust on this system since all the data fed in to blockchain is unchangeable and verified by third-parties like testing offices.
The Libellum platform will be used by more than 1000 users in the first year and 15 000 users in two to three years where it has planned to reach more the\an 200 000 users after three years.
Libellum’s main income source is subscription fees. However the earning potential of this project is limited since,
There are a lot of companies purchasing from China who could use this interface for their purchases.
It is limited to importers or exporters compliance regulators and customs official and so on
Followings are the type of subscriptions that are available in this platform.
Monthly subscription - USD 97
Yearly subscription - USD 997
One time lookups - USD 9.97
Five lookups - USD 39.97
Mainly there are three participants in this platform. They are suppliers, testing companies and foreign buyers & buying offices. Each individual party can obtain various advantages from this platform.
Advantages for Suppliers
They can ensure that all the certificates are up to date
Certificates are validated on the platform
The user friendly process
The can track their certificates
Suppliers can increase their customer base
Suppliers will be received QR Barcode with digital signature. It can be used when they go for a listing. It helps clients to get an idea of the suppliers’ authenticity.
Advantages for testing companies
Make easier the tracking certifications with suppliers
Testing companies are received a notification when certificates are expired
Advantages for foreign buyers & buying offices
Reduced manpower
It takes less time and less effort to validate authenticity certificates and test reports.
User friendly interface
It is given the access to authorities, regulating bodies or customs by clients at the time of customs clearance.
The token used in this project is represented by LIB. It is based on Ethereum ERC-20 Standard where the total supply of token is 100, 000 000. 50% of total token supply is available for sale. The token sale is opened from Sep 1, 2018 to Sep 30, 2018. The price of the token is stated as 1 ETH per 3000 LIB. However, the pre-sale price is stated as 1 ETH per 3450 LIB. It is must to invest at least 5 ETH during Pre-Sale & ICO. All the payments are accepted only from ETH. There is a compatibility of LIB token with third-party services wallets, exchanges etc. US, New Zealand, Singapore, and China citizens are restricted from participated in Token sale. Each and every person who wishes to invest will subject to Key Your Customer (KYC) and Anti Money Laundering (AML) procedure.
The pre token sale is conducted in two stages.
Early Investor Program – 10% of total LIB token supply is available in this stage. The minimum amount that can be invested in this stage is 5 ETH. The investors in this project can purchase the tokens at a reduced price and entitle to additional benefits as well. The tokens are allocated on first come first serve basis at this stage. Investors can enjoy 50% of discount at this stage. The maximum amount that is expected to be raised at this stage as hardcap is stated as USD 500,000.
Main Pre-Sale – In this stage 40% of LIB tokens are available. The funds raise from this stage will be used to build up the platform, raise awareness and build more relationships. Investors can enjoy 20% of discount at this stage. The minimum investment at this stage is stated as 1 LIB @ USD 0.1. In this stage the hardcap is recorded as USD 3,200,000.
The type of bonus that Libellum is going to issue can be identified as 50% bonus on the Libellum token, free membership, partner site discounts, free manufacturer/supplier lookups and beta access.
The total hardcap is limited to USD 3,700,000 due to following reasons.
Since they don’t want to over finance themselves
Because this project is simple to execute
Since it does not want larger volume of money to build the platform
There will be public token sales only if there are unsold tokens after the Main Pre-Sale. The price of a LIB token at the public token sale is stated as USD 0.1 per 1 LIB.
The total token supply is distributed as follows,
Token Sales/ Main Pre-Sale – 40% (40,000,000 LIB)
Advisors – 5% (5,000,000 LIB)
Bounty and Marketing – 5% (5,000,000 LIB)
Research and Development – 15% (15,000,000 LIB)
Early Investor Program (EIP) – 10% (10,000,000 LIB)
Team share -10% (10,000,000 LIB)
Reserves- 15% (15,000,000 LIB)
So, rose fund will be utilized for the development of the projects. It is allocated for the development of following areas,
Team hiring (Blockchain Developers, UX/UI Designers and Developers, Data Entry ( to populate our platform), Legal and Compliance Officers) – 40%
Administrative Tasks such as Payroll, office rentals, Factory visits & meetings with manufacturers and all the other costs that are unrelated to the development of the Libellum platform – 5%
Marketing- (expanding the Libellum brand, forming the partnerships, and creating a market to the customer base) - 15%
Development – (development of Frontend and backend of the web and mobile applications, APIs development, Architecture Design and Wireframing, UX/UI of the applications, testing of Platform and blockchain and L-ID System ) - 40%
Followings can be identified as the achievements of Libellum so far up to now.
Launching importDojo.com while focusing on educating importers across the globe. It highlights how to deal with Chinese manufactures.
Releasing full amazing case study to public
Introducing a step by step guild to source the product in China to storing it on the eCommerce store
Launching the importDojo certifications
It has provided guidance on regulations supplier verification and compliances.
It has enhanced the transparency and the supplier verification than ever.
The idea has been generated to launch the supplier verification platform.
Introduction of supplier verification to the third party testing laboratories.
It has been built up the developers and advisory team.
It has built up a partnership with third parties – It is assigned a Main Identification Number to each certificate.
Accordingly unique QR code/hash addresses to the suppliers are assigned by the testing companies. It facilitates for the easy access of suppliers’ information.
Libellum has been incorporated and registered in Hong Kong.
It has established development team in Switzerland and Serbia.
It has set up the Advisor and Communications team
It is finalized the platform functions
Further, Libellum have planned to achieve followings in its near future.
Launching the web site
Release the white paper
Conduct presale and token distribution
Listing the token exchange
Releasing the Minimum Viable Product (MVP)
Optimizing, improving and adding features with key partners
Development of API’s for third party lapidaries
Facilitating for integration and upload of existing supplier reports and certificates
Launching the fully functional project
Building continuous partnerships with testing laboratories
Continuously it will add new features and improvement to the platform
The founder of Libellum is Manuel Becvar. He has a substantial volume of experience in the field of retail and manufacturing industry because he has worked in that industry since 1998. He was clever enough to generate 35,000,000US$ of turnover in a one of Europe’s largest retailer as a Product Manager. He is such a target oriented person. Not only that he has built a large network of manufacturers and testing companies also in Hong Kong and China. He has started his own eCommerce and trading company in 2014. He did not stop from there. Then he started an educational online blog in 2015. Further he was a co-founder of a sourcing company which is in Hong Kong helping customers who are around the world to find legitimate and quality suppliers in Asia for their products. He is a good public speaker across the world on the topic of eCommerce and manufacturing. Finally he has come up with Libellum in 2018 with the intention of making supplier verification easier and simple. This was the answer for the main questions he had in his mind always. Those are,
How he can trust suppliers in China and
How he can find out whether the supplier is legitimate or not
Libellum is driven toward the success by an excellent team that comprises with highly qualified and well experience nuts. They are experts in Manufacturing, eCommerce and trading, Social Communication, Information Technology and Software Engineering, Blockchain Technology, Marketing, Business Development, Project Management, Financial Markets, Brand Building, Leadership, several Programming Languages, public relationship, and legal matters and so on. They always try their level best to maximize the wealth of all the stake holders of this project. Therefore not only the people work in logistic and manufacturing industry but the investors and all the other community as well will benefit from this project.
More Information About Libellum:
Website: https://www.libellum.io
Whitepaper: https://www.libellum.io/wp-content/uploads/Libellum-Whitepaper.pdf
Telegram: https://t.me/libellumofficial
Twitter: https://twitter.com/Libellumio
Medium: https://www.medium.com/libellum
Facebook: https://www.facebook.com/libellum.io
Reddit: https://www.reddit.com/r/libellum
ANN Thread: https://bitcointalk.org/index.php?topic=4855801.0
Linkedin: https://www.linkedin.com/company/libellum-io
Post by Anusha
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1953594