Morpheus Nework to disrupt global logistics industry with Blockchain Tech
After receiving my first fervent recommendation for Morpheus Network I did what any good crypto hunter would do and began my research directly on their website.
As you enter, you’re greeted with a well-written elevator pitch for Morpheus Network:
“Hello World. 2 Trillion USD was lost in the past year to bank fees, conversion rates, and delays in global trading. Introducing Morpheus Network, a full-service, global, automated, supply chain platform with an integrated cryptocurrency payment system utilizing blockchain technology. The blockchain economy is here.”
This alone is enough to get my attention because a global supply chain network will be one of the most important use cases for blockchain technology. In fact, some of the largest global businesses are beginning to adopt blockchain to improve the efficiency of their supply chains (Walmart, Maersk, British Airways, UPS, and Fedex to name a few).
What are Morpheus Network’s Goals?
Morpheus Network is working with some of the biggest customs, shipping, and banking companies to create a global supply chain platform that uses cryptocurrency payments on blockchain technology.
- Automatic digitization and generation of shipping contracts and documents
- Documented shipping and customs details that comply with international regulations
- Integration of any other blockchain technologies to be incorporated in smart contracts
- Layered security levels and high-tech encryption with flexible permission settings
While other crypto based payment processing systems target the electronic retail business, Morpheus Network’s main target is on the import and export field and global payments.
Morpheus rating system will give prospective network users assurance that they are dealing with a reliable company.
Shipping documentation (bill of lading, commercial invoices, packing lists, insurance documents, etc.) is digitized and shared securely and conveniently between the exporter, importer and freight forwarders or customs brokers who have access in the permission settings.
The layering of Storj, a blockchain data storage technology, is where all original documentation will be stored and accessed through an encrypted hash on the Morpheus Network blockchain as a part of a Smart Contract.
These digital documents will all link to the original work contract and payment.
Once a document is added to the blockchain, it cannot be altered, which is the key component in digitizing original documents, revolutionizing the import/export industry.
How will Morpheus Network dirsrupt the Logistics Industry?
With Morpheus Network, courier services will no longer be needed to send documents around the world.
These legacy businesses are a major cause of delays due to late or lost documentation. This is a key reason why the Morpheus Network is such a major disruptive technology for the import and export industry.
The Morpheus Network User Experience
The Morpheus Network features a simplified and streamlined dashboard interface.
Interacting with the network by revising or adding Smart Contract objectives in your supply chain is designed to be intuitive and easy to navigate.
You can easily view the flow of the funds and documentation within any transaction as well as utilize any of the Morpheus Network features such as escrow payment services and document digitization.
It also features the permission settings which establish which documents or Smart Contract objectives are kept private, and which ones are visible and shareable with your shipping agents, customs brokers and freight forwarders.
The MORPH Token
The Morpheus Token (MORPH) is a value-based utility that powers the Morpheus Network. Is is also an Ethereum based ERC20 token. For global payments Morpheus has integrated Microsoft Dynamics 365 ERP system with SWIFT.
MORPH tokens give users access to the Morpheus network.
The value of the Morpheus Token is based on the value of the currency required to execute a full payment. SWIFT will be used to directly send payments to over 1600 banks through the Smart Contract.
What Would Neo Do?
So you’ve followed the white rabbit to this point. You take the blue pill, this coin review ends, you click out and believe whatever you want to believe. You take the red pill, follow the Morpheus Network into blockchain wonderland and see how deep this industry-disrupting rabbit hole goes.
MORPHEUS NETWORK TOKEN PRESALE BEGINS MARCH 2nd, 2018
This is not financial advice. Always DYOR. Do Your Own Research. https://morpheus.network/whitepaper/
Originally published at hodlcrypto.org on February 20, 2018.