THE MORPHEUS NETWORK
The world’s economy is dependent on trade to a very large extent. The strength of currencies is determined by exports and imports of countries. Weaker currencies usually have a difficult time importing as they have to spend more compared to countries with stronger economies. This also means that wealth distribution is not as fair as it should be. This is the current structure of the world but this could change. Blockchain applications are attempting to disrupt the current world structure where those with power are favored over the weak. Through blockchain however, everyone will have the chance of wielding this power in all market sectors.
The Morpheus Network is an upcoming supply management platform that aims to improve greatly the way goods move between countries. There are a lot of complexities involved in importing and exporting. A lot of paperwork needs to be done for goods to move from one country to the other. This usually leads to a lot of delays that affect companies and whole economies around the world. Take for example what recently happened to the car manufacturer BMW. They had to stop the production line of some of there products as the supplier was unable to deliver important parts to their factories around the world. This delay is probably going to affect them in some way. These are the types of problems that need to be done away with in this era that we live in.
Due to this and similar problems, the Morpheus Network is using blockchain to solve these problems. The Morpheus Network will be based on the Ethereum network blockchain. Ethereum offers the development of customized smart contracts. Smart contracts are probably the greatest innovations especially when it comes to controlling transactions. The Morpheus Network will use this to do away with administrative problems associated with paperwork. Their smart contract will contain all the necessary requirements for any import or export to be completed. The hassle of sending physical paperwork back and forth between countries will have been removed through the smart contract system. Blockchain will allow for both trading parties to fill their contracts from their own ends with every detail being visible to both parties. This will ensure transparency in the network. For the supply chain network to work as envisioned by the Morpheus Network, they will combine their blockchain with other relevant blockchains such as the Walton Blockchain which will help them in the whole supply chain process.
The Morpheus Network will be powered by their token known as Morph. Users will be able to access the Morpheus network through Morph. Through Morph, payments will be made simpler around the world. More than 1600 banks can be reached through this token system. Morph can easily be obtained by converting fiat or cryptocurrency through the Morpheus platform. This will make it easier for trade that involves different currencies.
The Morpheus Network had a successful pre ICO sale and are now having their public ICO which runs until 22nd April 2018. Through the ICO events, the Morpheus Network hopes to raise funds that will help it develop its platform. It also wants to involve the public in its development. If the Morpheus vision resonates with what you want to see in the future, you can participate in their token sale through the following link, https://morpheus.network/token/.
You can also read more about the Morpheus Network through https://morpheus.network/whitepaper/.
Visit Morpheus on their official website, https://morpheus.network/.
