We'll aim to understand the underlying principle of the project by thinking of it in this way: suppose you had one large oxygen tank filled at 100% capacity in such a world that oxygen can be used as currency as well. Your mission as the shipper of the parcel is to have it delivered over a considerable distance to a patient in dire need.
With the given market standards it would unfold in the following way:
- The first step is getting in touch with a broker to ensure access to a reputable carrier; this is crucial and you cannot risk dealing with lousy services on such an urgent matter. The circumstances are such that the only means of payment you have on yourself is the very content of your parcel, and therefore submit 30% of the substance to the broker.
- The broker puts you on track through three carriers that handle the segments of the trip. Given poor communication among shipment carriers and for the sake of the person waiting for the delivery, you submit another payment of 5% so as to provide extra tracking information.
- Finally you engage with the drivers of the vehicles who, lacking real incentive to make the trip more efficient, often spend extra gas and mileage and you therefore submit an additional 5% for an on-time delivery. On top of this 5% is added upon completion of the task so as to provide an incentive for parcels to arrive in pristine condition.
In the end you have spent almost a half of the vital substance on avoidable costs and inefficient systems.
By using the Ethereum blockchain, ShipChain aims to build a ledger that validates the reputation of carriers by using their actual on-the-job performance and contract completion rate, thus rendering the brokerage third-party of little use. Moreover, by introducing smart incentives and a demand on real results, it creates a more efficient shipping system that reduces superfluous costs.
ShipChain:
https://shipchain.io/
Contest page:
https://steemit.com/cryptocurrency/@originalworks/90-steem-submission-bonuses-sponsored-writing-contest-shipchain-io
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