Sharing Economy meets Blockchain
It is undeniable that the sharing economy has brought about a vast range of opportunities. It is now at one’s fingertips to monetize just about any asset through ridesharing apps like Uber, reselling and trading platforms like eBay, and skills and services marketplaces like Fiverr. At the same time, consumers now have access to goods and services that can be tailored to their needs on an ad hoc basis. Despite these benefits, much limitations still exists for this booming economy.
Most existing companies operating around the concept of sharing economies works as a service aggregator, where a centralized platform connects goods or service providers with users. This model allows the middleman to capture a huge cut of the profits, which can result in the uneven distribution of value generated by the providers. This hurts consumers as providers might need to drive up prices to profit from their work.
The current sharing economy is dominated by monopolies or a scatter of huge companies. This gives them much control over the terms and prices the market will operate at, leaving both providers and consumers with limited bargaining power. Data from both providers and consumers can also be obtained by these large intermediaries, which can misuse the information for other commercial purposes.
With no signs of slowing down in the foreseeable future, the sharing economy is now ripe for an upgrade.
Blockchain: The technology to upgrade the sharing economy
Blockchain is a new technology which can upgrade and democratize the sharing economy. With Blockchain, the need of a middleman is eliminated and in its place is a trust-less, peer-to-peer distributed ledger where transactions and messages can be sent securely through self-executing smart contracts. The same shared database of providers and users can also be accessed by anyone through multiple different interfaces customised to suit a purpose. It is tamper-proof, and the network can be built without a central author.
LogisticsX Application
LogisticsX utilises blockchain to create a decentralised platform that can harmonise the presently fragmented logistic sector. By having all forms of parcel verification and tracking on the blockchain, a trust-less system can be set up for visibility amongst stakeholders such as third-party logistics companies, e-commerce retailers, logistics couriers and the end recipients. This transparent interoperability allows for delivery to be decentralised to multiple logistics courier.
LogisticsX will be partnering up with Blue Whale Foundation (BWX), to boost the income stability and employment benefits of freelancers through a Blockchain-based network while not compromising on the visibility that traditional sharing economy platforms allows.
This partnership ensures that freelance logistic couriers can be properly rewarded for their work and that the net benefits generated by the LogisticsX network is distributed.
With the e-commerce industry forecasted to grow to US$4.5 trillion by 2021, now is the best time for a secure, transparent and efficient global parcel delivery network.
AAbout 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
