80% transport exchanges involve only one means of transportation.

QUASA
QUASA
Sep 7, 2018 · 3 min read

According to the research, there are no full-fledged online services for cargo transportation.

The main reason is a risk which takes place during cargos being transferred from one participant to another. Transport companies do not want to take responsibility towards cargo owners on any stage of transportation, while the organization of a fully-fledged system involves considerable expenses, including labor ones.

Example.

Let us take a vehicle which is moving from point A to point B. We should engage several transport companies (PatherPath — for land delivery to the port, Freightos — for sea transportation, and Transporeon — for delivery from the port to the warehouse). Hence, cargo owners would prefer hiring a single forwarder who will perform the duties of all the three transport companies for a fixed surcharge.

According to the experts’ estimates, in 2015 the logistic sector accounted for 6% of the world GDP, and its turnover was equal to USD14 trillion. For quite a long period of time the cargo shipping market is going to retain a considerable share in the world economy with CAGR being equal to 3%.

Sector risks are offset by stable growth factors: global and regional differentiation of labor together with population growth.

IT solutions for the automation of the transportation mode selection process are in demand among clients of carrier companies as well as carriers themselves.

The above-mentioned can be indirectly proven by the following facts.

Appetite for investments.

Over the past three years the volume of venture capital investments in IT aggregators was equal to $150 mln (for freight). Over 10 private capital deals were closed in the USA, with China accounting for 2 more such deals and the Western Europe accounting for yet several more ones.

Two carriers (Cargomatic and Freightera) were able to achieve IT-based income equal to $10 mln a year each.

The main idea is to simlify the order process of cargo transportation. Earlier the client had to call one of the carriers to negotiate freight’s cost, time of shipping and vechile type. Another option is to hire a broker who would deal with all cargo transportation details. Fot this intermediary service the broker would demand service tax in a total ammount of 20–45%.

The mission of the QUASA project is a simple, clear and convenient interaction between the cargo owner and the carrier at all stages of freight transportation on the Etherium blockchain and smart contracts basic. New technologies suppose to exclude all the lack of trust, information barriers and legal costs. This is a level up for logistics technologies, also it ensures complete security and confidentiality throughout the entire supply chain

https://www.quasa.io/

QUASA

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THE FIRST OPEN BLOCKCHAIN PLATFORM FOR CONNECTING PEOPLE https://www.quasa.io/

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