The Future of Decentralised Last Mile Logistics
Logistics start-up Park N Parcel is pleased to announce that it’s fully-owned subsidiary PNP Logistics Network will be developing LogisticsX, decentralised platform utilising blockchain technology to solve challenges in the global last-mile logistics industry.
LogisticsX will allow for a seamless connection between global logistics stakeholders including e-commerce retailers, third party logistics (“3PLs”), individuals managing Parker Point (“Parkers”), individuals couriers delivering parcels (“Runners”) and parcel recipients into a multiparty network.
With the adoption of LogisticsX platform, we aims to transform the last mile delivery sector by increasing security and transparency while reducing the fragmentation between logistics stakeholders currently found in the sector. LogisticsX Token will be used as the main transaction currency that powers the LogisticsX Ecosystem.
Capitalising on Opportunities and Solving Challenges in the Last Mile Delivery Sector
The rising popularity of online shopping is evident from the forecast of Global Retail E-Commerce sales of an astounding USD$4.5 Trillion by 2021. Additionally, in 2016 alone, over 65 billion parcels were shipped worldwide, which constitutes a 48% increase compared to 2014. One of the key business sectors closely related to e-commerce is logistics, a sector which e-commerce merchants heavily rely on to fulfil the deliveries of parcels to online shoppers. An enhanced logistics ecosystem like LogisticsX will also satisfy the continual consumer demands of faster, better, cheaper and fairer. Greater economic empowerment can be created through involving more participants into the logistics ecosystem, at the same time, opportunities from the increasing consumption from the sharing economy can be realised.
As one of the largest industries globally, the logistics sector is facing wide-ranging issues especially with the lack of good infrastructure causing high rates of failed delivery, traditional processes leading to high operational cost and inefficiency, decentralized authentication and the gaping employee shortfall in one of the fastest-growing sectors.
 Aaron Orendorff (2017, Sep 1). Global Ecommerce: Statistics and Internation Growth Trends [Infographic]. Retrieved from https://www.shopify.com/enterprise/global-ecommerce-statistics
 Dyfed Loesche (2017, Sep 1). 65 Billion Parcels Were Shipped in 2016. Retrieved from https://www.statista.com/chart/10922/parcel-shipping-volume-and-parcel-spend-in-selected-countries/
Our First Adopter — Park N Parcel
Over the last 2 years, Park N Parcel has been serving major stakeholders including international third-party logistics companies (e.g. Aramex, Singpost ,DHL & Riverwood etc.) and E-commerce retailers (Lazada, Carousell, Sgshop & Airfrov, etc.), which includes more than 30 E-commerce merchants and a community of 2,000 online sellers.
Park N Parcel has received support from TRIVE (previously known as “TRi5 Ventures”), National University of Singapore Enterprise and group of angel investors from private equity and family offices. Their mentors include Golden Gate Ventures and DeClout Investments and are a member of the Sharing Economy Association Singapore.
Additionally, some of the awards Park N Parcel have won include, Bronze winner of SITF Awards 2017 for Best Innovative Infocomm Product (Digital Services) and the Grand Winner of Start Jerusalem Competition 2017 for Singapore. As fully-owned subsidiary of Park N Parcel, LogisticsX by PNP Logistics Network is yet another innovation from the team to answer to the global last-mile delivery challenges.
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