The smart containers group (formally known as REP AG) is bringing an exciting new feature to temperature-sensitive goods freight activities. The group which has its base in Switzerland has two other subsidiary companies SkyCell and FoodGuardians. They aim at creating a logistic network that utilizes blockchain smart contracts in achieving a more efficient and sustainable platform than it used to be. This is in response to an ever-changing requirement involved in transporting temperature sensitive materials (especially pharmaceutical and food products) from place to place.
Some of these requirements involve some tedious processes that gulp up a lot of time under which transported goods are subjected to different changes, asides the many paperwork processes that could be largely minimized (or almost eliminated) on a decentralized system. Hence the project shows some timeliness and importance in bringing a lot more convenience to logistic services.
The Smart Containers’ Big Plan
The company has mapped out a two method strategy that would ultimately bring about the intended revolution in the logistic concern. First of them would be the crowdfunding project that targets to raise $36 million in exchange for the SMARC token, which would be issued out to all the individuals who would invest in the funding. The SMARC token acts as a dividend permit that allows the holder access up to 20% of future profits made by the company. The monies realized from the crowdfunding events would be channeled into scaling up the company business and as a preliminary phase to the real revolution plan.
The second phase project carries the major ideas of the smart containers’ logistics blockchain project, which would be called the Logi chain.
The logic chain network would utilize the login token which would be the means of the transaction on the platform.
How the blockchain would work
Logi chain importantly aims at eliminating the use of paper and all the discontinued methods of disseminating information such as the regular emails. The blockchain would achieve this by providing every user with a virtual chip for a little fee which shall be paid using the login token. This virtual chip acts as a receptor to which documents and other dispatchable forms can be linked, and then served to all the parties such as customs, buyers, delivery agents, freight forwarders and others in the logistics process.
Another basic tool by which the Logi chain ecosystem would work to expel the rigors of centralized payment systems is via the use of smart contracts. Every payment and service would be received and delivered accordingly, upon fulfillment of the set instructions on the contracts.
Since decentralized system makes documents available to every user on the blockchain, the platform would utilize a permissive blockchain such as Fabric where the different parties can access the files through an open source reader. This is important to protect private or delicate documents that shouldn’t necessarily be available to everyone.
The Smart containers group is headed by Richard Ettl, Nico Ros, and the other executive members.
See more details on the website: www.smartcontainers.ch