Shipping is complicated.
It doesn't have to be.
Visibility unlocks efficiency, and trust unlocks visibility. ShipChain's unified approach to provide both opens up a world of potential for a siloed industry to be able to work together for the benefit of everyone. John Monarch, CEO
Tracking problems lead to confusion among carriers, failed handoffs, failed deliveries, and even lost shipments – the cost of which is ultimately passed onto shippers.
Lack of Transparency
Due to fragmentation, uncertainty, or to protect exclusivity, brokers can’t or won’t provide shipper's full visibility into what driver & carrier is carrying their freight.
The US Federal Bureau of Investigations estimates annual cargo theft losses exceeding $30 billion USD (2016) and rising. The largest source of these errors are handoffs.
While brokers & forwarders are the source of most problems in shipping & logistics, they typically charge a significant premium: sometimes 30-50%.
The real root of the aforementioned issues are misaligned incentives: all parties (drivers, brokers) stand to gain from poor tracking thanks to deniability.
The current state of the shipping & logistics industry is a sparsely connected network of brokers, carriers, and drivers that lack a unified solution.
End-To-End Track & Trace
The Track & Trace platform unifies tracking across the entire supply chain between all carriers. When there is an issue with the shipment, down-to-the moment data enables rapid response & remedies, preventing domino effects in the supply chain.
Blockchain documents every single step in the supply chain on an immutable ledger that cannot be changed or altered after-the-fact. It essentially boosts visibility across the entire supply chain, thereby reducing risks of fraud and theft.
In a trustless & decentralized system, individual players are rewarded for their participation. Operators can be rewarded for using efficient transport routes or delivering goods on time; transporters for obeying speed limits, behaving safely, and observing green fuel economy practices.
Due to the nature of smart contracts, brokers are no longer necessary. Blockchain eliminates any middleman markup costs.