LogisticsX — making logistics and online shopping great again.
Lack of traceability, accountability, and insufficient information about your deliveries are some of today’s biggest online shopping headaches.
The key issue is due to the fact that in your international parcel’s long journey, it is not uncommon to pass through multiple logistics companies before landing on your doorstep.
According to Singpost, parcels from overseas, no matter the kind of postal service used and whether the parcel is registered or not, are handled as basic mail and cannot be tracked. “Technically, we can’t even declare something is ‘lost’ because we cannot be certain if the item is indeed in our system.” ¹
Until today, few have stepped up to implement a solution due to the fragmented, cutthroat, and complex nature of the logistics industry. This lack of transparency and siloing of information greatly limits and obscures the information transmitted to you, including but not limited to the exact location and delivery date & time of your parcel.
According to DHL, in the US alone, it is estimated that there are over 500,000 individual trucking companies. With such a huge number of stakeholders involved in the supply chain, this often creates low transparency, unstandardized processes, data silos and diverse levels of technology adoption.²
With such limited information provided to you, the consignee, it would be near impossible for you to specially set time aside to receive your parcel. Furthermore, in the event of a failed delivery or damaged parcel, finding someone to liaise with to arrange for a re-delivery or redirect is always a tedious task. Filing an insurance claim would be no easier, with investigations dragging on and causing weeks of agony — more often than not, there would also be no avenue to seek redress should the investigation yield an unfavorable outcome.
The Solution
With a blockchain, the above-mentioned challenges and inefficiencies can be minimized, and streamlining the whole delivery process — in return, providing even greater value to all e-commerce users globally.
With LogisticsX, partner logistics companies can easily update and track parcels. Securely tokenizing the parcel inside our distributed ledger, you can rest assured that you would be getting the latest (and verified!) parcel updates. Get ready to plan your days better with accurate estimates of parcel delivery timings!
All systems have bugs, and even modern centralized systems may have multiple points of failure. Remember Grab? — who would want to experience such headaches when you need them the most. Decentralized systems greatly increases redundancy, and greatly reduces the chance of a single point of failure.
Like all nascent technology breakthroughs, the blockchain ecosystem relies on real-world applications and successful implementations to solidify its legitimacy and boost worldwide adoption.
Furthermore, we envision building LogisticsX on an interoperable platform like ICON would spur similar projects into fruition. With the backing and participation of the backbone of global e-commerce — multinational logistics players, we believe we are on the fast track to critical mass for distributed ledger technologies.
Why LogisticsX?
LogisticsX is the brainchild of Park N Parcel, an on-demand logistics company that marries supply and demand by turning your neighbours into parcel delivery and collection points! A godsend for busy online shoppers and couriers alike, reducing long waiting times and missed parcel deliveries.
In just two years, Park N Parcel has expanded to serve multiple major multinational logistics stakeholders, including hundreds of e-commerce merchants and an online community of more than half a million C2C sellers.
With an existing logistics network and experience, LogisticsX is equipped with an in-depth understanding of the industry, and develop a viable and integrated blockchain to further enhance the logistics and e-commerce experience.
Additionally, given Park N Parcel’s vast experience in the sharing economy with thousands of on-demand collection points countrywide, LogisticsX will benefit greatly with the partnership, enabling future easier access to international collection points.
The Market Opportunity
- Over the last 4 years, e-commerce has seen a 25% year-on-year growth to become a US$2.3 trillion dollar industry.
- Due to our hectic modern lifestyles, about 15–20% of customers are not at home to receive their parcels, resulting in a huge missed delivery volume.³
- In 2017, approximately 50% of China’s population used on-demand sharing economy services, compared with just 26% of US adults. In China, these numbers are forecasted to grow even further at an annual rate of 30% over the next five (5) years.
Our Advisors
Stay tuned: check out our links below to learn more about us and get the latest updates, we look forward to having you as part of our community!
About LogisticsX
LogisticsX aims to utilise blockchain technology to create a decentralised platform that will tackle the challenges in the last-mile logistics. It is envisioned that the trustless nature of the platform will provide the foundation for a harmonized ecosystem between the different stakeholders involved in the last-mile process. LogisticsX will introduce sharing economy into the ecosystem, utilizing untapped space (Parker) and time (Runner) to further enhance the efficiency.
LogisticsX envisions to set forth the global common standard for the connection between logistics stakeholders to increase efficiency in a global parcel delivery network.
Further Readings:
Website: https://www.logisticsx.io
Telegram: https://t.me/logisticsx
Twitter: https://twitter.com/LogsXOfficial
Whitepaper: https://logisticsx.io/documents/LogisticsX-Whitepaper-V1.4-11-June-2018.pdf
For investments or Partnerships, please contact us at: enquiries@logisticsx.io
Further Reading
¹ Jalelah Abu Baker (2016, Nov) Retrieved from:
https://www.straitstimes.com/singapore/youve-got-mail-but-its-lost-in-transit
² DHL Customer Solutions and Innovation (2018) Blockchain in Logistics: Perspective on the Upcoming Impact of Blockchain Technology and the use cases for Logistics Industry. Retrieved From: https://www.logistics.dhl/content/dam/dhl/global/core/documents/pdf/glo-coreblockchain-trend-report.pdf
³ Pearl Lee (2017, Feb) Retrieved from:
https://www.techinasia.com/delivery-men-tech
