PAKET Protocol — Delivery of Anything to Anywhere by Anyone
PAKET Protocol is a decentralized marketplace of delivery services in which anyone — from a professional organization to a casual individual — can participate. It enables cooperation between various delivery providers in order to create faster, cheaper and more efficient ways of transporting goods.
Why Now?
The current “centralized” way of transporting goods is wasteful and limited. 80% of international delivery costs are spent on the Last Mile — the final stage in your delivery. Many small companies compete for a share of these local deliveries but are unable to provide an efficient worldwide service.
Many delivery providers don’t exist within each others’ networks and have no way to cooperate. What if international transportation giants, local delivery companies and casual couriers had a way to work together?
The Solution
PAKET Protocol takes all the usual ways to transport goods and connects them into one ultra-efficient fully decentralized network, with no governance, no central authority, no commissions, and no hidden fees. It lets all the different players play together, allowing each to focus on what they do best. This is a win-win for the package delivery ecosystem: empowering local couriers, reducing operational costs for huge global shipping companies, and enabling faster, cheaper routes for the end user.
How Does It Work?
PAKET is based on a cryptographically secure, multi-layered protocol stack for delivering anything, to anywhere, by anyone.
PAKET protocol uses a cryptographically secure token, BUL, in order to establish trust between senders and couriers. The smart contracts governing BUL ensure that delivery fees are stored in virtual escrow and are either paid when the delivery is successfully delivered, or refunded if it’s not completed before the deadline. Higher layers of the PAKET protocol deal with insurance, finding optimal transportation routes and simplifying the user experience. It even allows for network participants to unite in organizations (for example, courier groups, insurers, hubs) and add further value.
Cheaper, Faster and More Flexible
Deliveries made on top of the PAKET protocol and using BUL will offer the following advantages over current delivery services:
• It’s more flexible, allowing the network to discover the most efficient route.
• Cheaper, faster, and more environmentally friendly as a direct result of this increased efficiency.
• Safer and more accountable as it provides penalties and rewards for every participant on every leg of the route.
• Completely transparent and analyzable as all transaction information is blockchain-based.
New Delivery Chain Ecosystem
Since our technology is entirely open, simple, and free for use, it will not only attract existing delivery providers, but also entirely new players and services. PAKET is supplying the infrastructure, the tools and the incentives for a better collaboration between the folks who can move stuff and the folks who want stuff moved.
BUL Tokens
At the heart of PAKET Protocol is a dedicated token, BUL, governed by smart contracts for settling all payments and related transactions. The entire platform and its related market activity — payments, collaterals and relays — revolve around this token.
Visit us at https://paket.global to learn more about PAKET Protocol.
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