Blockchain technology is disrupting several sectors — from healthcare to education, and supply chain management — to create a decentralized system. For a long time, we have been using centralized systems, but they are futile. So, most of the key players in various sectors are opting for blockchain technology, as it is transparent and cost-effective.
Blockchain technology is currently tackling the many hurdles that face supply chain management; it’s providing successful solutions to this sector, such as reduced costs and complexity, improved stock management, transparency in logistics, and much more.
There are several blockchain start-ups in the logistics industry that tremendously improve this sector. Interestingly enough, these start-ups have created prominent tokens, and the crypto community can’t underrate them. Let’s look at these tokens.
It is the primary currency in the Walton chain ecosystem, since they use it as a transactional coin to perform activities of the parent chain.
The Walton chain uses a combination of IoT, special RFID, and blockchain technology to create a unique management system for the supply chain i.e. it eliminates fraud.
WTC is currently trading at $0.475; with a market capitalization of around $21M. This is considerably low compared to its all-time high price of approximately $43 in 2018. I would like to point out that it’s among the top altcoins to watch in 2020 because it’s supported by an experienced and well-connected team. It also has a real-world use case, and its RIFD chip is unique.
VeChain ecosystem (officially rebranded to VeChain THOR), uses VET tokens as fuel for the network. VeChain THOR is a start-up project that uses tamper-proof and distributed ledger technology (DLT) to offer great market transparency.
It also provides the end consumers with access to more detailed information about the products they buy, sell and interact with. Besides, it has major partnerships with big brands such as BMW, Renault, PWC, and lots more.
Currently, VeChain Price is holding at $0.005910; with a current circulating supply of 55,454,734,800 VE, and a market cap of $327,715,132. It’s a popular token nowadays, and it is all thanks to its recent partnership with Oxford University.
Modum uses a pretty impressive technology that combines IoT and blockchain so it can address the problem of end-to-end supply tracking in the pharmaceutical industry.
Contrary to other supply chain tokens, it’s focusing solely on the pharmaceutical industry, because this industry loses over $46 billion in profit due to supply chain issues.
However, the token has subsequently fallen from its all-time high price of approximately $12 in January 2018, and as of January 2020, it is trading at $0.092917.
This token powers the Devery.io protocol. This protocol addresses the problem of counterfeit online goods; and it allows manufacturers, retailers, wholesalers, as well as brands to assign a unique signature to their products with a third-party verification application built on the Devery.io platform.
They store these signatures on the Ethereum network; the signatures have tons of information such as manufacturing dates, location, expiry dates, and manufacturer’s addresses.
The EVE token is used to exchange services the platform, and it is currently trading at $0.001566, which is relatively cheap.
It’s an ERC-20 token that is used to perform utility services for the Ambrosus platform. This platform combines the protocols of blockchain, sensory systems, and smart contracts, to create a universal and controlled solution that ensures the quality and traceability of products from its very origin and delivery to the destination.
The Amber token is used to transfer value between the Amber networks; it acts as payment for transactions on the AMB-NET.
According to the CoinMarketCap, it’s currently trading at $0.015076 with a market capitalization of $2M.
It is the utility token for the Origin Trail ecosystem. This ecosystem is an open-source project dedicated to making global supply chain work; for it offers an unprecedented level of transparency in the supply chain.
The Trace token is an ERC20 token, and it is used to incentivize the technical operations of the Origin Trail ecosystem; it’s trading at $0.0140 as of January 2020.
The SHIPToken powers and incentivizes transactions on the ShipChain logistics ecosystem. The ShipChain ecosystem uses the power of blockchain to bring unmatched efficiency and transparency in the supply chain.
This ecosystem envisions a transparent, effective, and secure system in logistics. Currently, it holds strong partnerships with CaseStack, ScanLog, Zinnovate, and ParceLive.
The Shiptoken (SHIP) is trading at $0.0041.
The CXO token is used on the CargoX platform and they use it for issuing a smart B/L (Bill of lading). CargoX platform provides an encrypted blockchain-based solution for the exchange of shipment ownership (Bill of Lading) documents.
The project intends to provide a way for importers and exporters to exchange the bill of lading securely, digitally, and easily by leveraging the Ethereum blockchain.
The CXO token is trading at $0.00756, with a market cap of $1.6M.
It is a digital token in the Techrock ecosystem. The Techrock platform (Walimai) addresses counterfeit product issues that negatively impact the business economy. These tokens can purchase products listed on the Techrock platform.
The project uses NFC/RFID labels, dynamic codes and Hyper ledger blockchain to place anti-counterfeit QR barcodes on products, so consumers can scan those QR bar codes to confirm the validity of the products.
According to the CoinMarketCap, Tael is trading at $0.1202, and with a market capitalization of $8.4M.
CargoCoin is a platform that maximizes the interactions between traders, freight forwarders, shipping lines, and booking agents. Literally, parties involved in international trade can connect and exchange information on the CargoCoin platform.
The CargoCoin uses CargoCoin tokens as a payment method for services provided by the platform and also as a store of value.
This token is trading at $0.0000521.
Wow, there are several blockchain consortia in the logistics industry. I believe these tokens will unlock a new value this year (2020).
What are your thoughts on these altcoins?