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Logistics is the fundamental pillar of worlds economy. It has a very complex business structure, it manages the flow of things from point of origin to point of consumption and fulfills the every needs of consumer. Logistics is a part of supply chain management, where planning, implementation, storage, service, transportation and delivery of things happen. Today most of the logistic works are handled by human factors and with paper work. Because of this the products cost increases and delivery becomes slow. Today's logistics operation uses old model softwares which makes the process even slow.
Thanks to blockchain technology, a revolutionary technology in the history of mankind; could make the logistics sector more advanced and superior. Blockchain's decentralized, immutable, incorruptible and unhackable nature makes every organisation to must adopt it into their core applications. Blockchain adoption in logistics significantly change the way goods are transferred today, it helps to securely and transparently monitoring of every transactions. Implementation of blockchain helps to identify counterfeit products, helps to monitor the products movement from manufacturing to consumer delivery. Use of blockchain makes every operation simple, transparent, secure, trusted and faster.
Even though there are many solutions exist in the market today for logistics. But they all have some disadvantages and complexity to adopt.
EndChain project is here to provide a complete full scale solution to every logistics problems with blockchain technology.
Project objective
The main aim of the project is to revolutionize the logistics industry through decentralization and by adoption of blockchain technology. Implementation of blockchain provides full scale solution to every verticals of supply chain management. This makes it faster, secured, transparent, trusted, simple and reliable. Blockchain helps consumers to easily track goods from manufacturing to delivery.
Present challenges
The fundamental problem that logistics face is today is incorrect tracking details of goods/products. The delivery of goods from manufacturer to end consumer has many stages, land transportation, carriers, custom brokers, freight forwarders etc. They have to keep the every track records manually on the outdated systems. Most of the times they are not transparent and they always provide inaccurate information in tracking details. Finding the counterfeit products in this outdated system becomes very much difficult and many a times consumers receive counterfeit products.
Presently there are many companies providing solutions to logistic issues but there is no complete overall solution exist. For different problems different companies provide solutions. Most of the existing blockchain solutions only focuses on luxury goods such as jewellery, handbags, diamonds etc.
Another major problem is the lack of responsibility. When the packages becomes lost, stolen, damaged or delayed, the companies shift their blame onto another. Due to the inaccurate tracking data systems it becomes difficult to check the exact status of the package. This makes the customers frustrated.
Principle of operation
EndChain is aiming to provide a full scale single blockchain solution to all verticals of supply chain and logistic problems. Blockchain provides decentralization, security, transparency and trust in the system.
EndChain uses a patent pending QR code, which is a combination of barcode and QR code. Scanning a code is very simple and this code passes through every participants of the logistic chain. Scanning a QR code from the mobile application updates the data on the blockchain. The QR code provides the data, related to the manufacturer and every members involved in the delivery of the product on the supply chain network.
As blockchain is immutible and incorruptible, the data once entered into it can't be changed. So every data entered by every member of the logistics network is uneditable. So scanning the unique QR code at each stage of transportation process helps to transparently track the real time location of the product. This potentially helps to avoid any theft of product at any stage because we can easily track, from where the product was stolen.
Smart contracts plays an important role in ensuring the responsibility of products at every stage of transportation. Smart contract will charge a certain amount at each stage of transportation from the associated members, in case of the successful delivery of the product, the incurred charges will be returned and if the product got stolen then the charged amount will be paid off for that product from the responsible party.
Use of smart contracts in entire stage of supply chain helps to reduce the amount of paper work required, which saves time and cost associated with it. Smart contracts ensures the transparency and helps to reduce the cost price of products. EndChain is committed to provide solutions that not only applies to luxurious products but also for every other products.
EndChain uses ENCN tokens in every stage of platform transactions. EndChain uses 2 to 4 percent of the monthly revenue to burn the coins, which ultimately increases the value of the coins.
ICO details and timelines
• Token name: EndChain
• Token ticker: ENCN
• Tokens for sale: 74.5 million
• Softcap: $4 million
• Hardcap: $15 million
• Public sale start date: 1st December 2018
• Public sale end date: 15th January 2019
Token distribution
Roadmap
Conclusion
EndChain is here to revolutionize the logistics sector with blockchain technology. EndChain provides simplest and cost effective solutions to every problems of logistics and supply chain. Blockchain, decentralization, patent pending QR code and smart contracts make the network more transparent, secure and trusted. EndChain is a very promising project, it will definitely attract investors.
Learn more about EndChain:
Website: https://www.endchain.io
Read Whitepaper: https://www.endchain.io/#language
ANN thread: https://bitcointalk.org/index.php?topic=5055264
Telegram: https://t.me/EndChainIO
Facebook: https://facebook.com/EndChainIO
Twitter: https://twitter.com/EndChainIO
Medium: https://medium.com/@endchain
Reddit: https://www.reddit.com/user/EndChain/
YouTube: https://www.youtube.com/channel/UCfngp1u5OimZkTEm1NX78yQ
GitHub: https://github.com/EndChain
About Author:
Bitcointalk username: Abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
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It's really good project, it's QR code system will surely transform our society
Yes it is, it makes our logistics sector simple and secured