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11 Blockchain Startups in Logistics

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Yuri Musienko
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Logistics is an industry that needs real change. It suffers from inefficiency, the human factor, and cumbersome workflow. You can solve these problems using distributed registry and automation, that is, using blockchain and smart contracts. Next, we will look at 11 blockchain startups in logistics that can dramatically improve this industry.

# 1. Provenance: each item has its own history

Blockchain Startups in Logistics Provenance

Provenance helps shoppers track product history by helping identify fraud and counterfeiting

Year of foundation: 2014.

Location: London, UK.

Total funding: $ 1.1 million.

Web site: www.provenance.org.

The Provenance platform is designed to help brands and retailers build customer confidence by providing key information about each product: materials, ingredients, suppliers, manufacturing processes, equipment involved, storage, transportation and more. Each stage of the product’s life cycle (its “history”) is monitored and recorded on the blockchain, after which this information is verified and made publicly available.

Anyone can connect to Provenance. To do this, create a business profile and add information about your company and product, including any awards or certificates they received. After creating a profile, you need to enter information about the product, adding information about the materials, ingredients, equipment, processes and the associated social or environmental consequences. Then you need to invite the involved retailers and transport companies to cooperate, who will add information about the conditions of storage and transportation.

This creates a complete “history” of the product, which can be viewed using the Provenance application or integrated into the company’s website, electronic receipts or issued via url and / or QR code.

# 2. ShipChain: logistics platform

Blockchain Startups in Logistics ShipChain

The ShipChain blockchain was created on the basis of Ethereum, but it does not have a fee for gas and is much faster

Year of foundation: 2017.

Location: Los Angeles, USA.

Total funding: $ 30 million.

Web site: shipchain.io.

Logistic blockchain startup focused on the transportation of goods and allowing you to track the transportation of any goods from the moment of shipment from production to final delivery to the client's doorstep by app. ShipChain is a member of the Blockchain in Transport Alliance (BiTA) and promotes its product for widespread use by freight forwarding companies.

The system uses the immutability and decentralization of blockchain technology and IoT devices to collect information about the movement and conditions of cargo transportation in real time, thus creating a "history" of the life cycle for the goods. In addition, ShipChain allows you to automate a significant part of the logistics processes associated with data exchange, document management and financial calculations. Payment can be made using the ERC20 SHIP token.

At the technical level, ShipChain blockchain is a modified version of Ethereum, which is distinguished by the absence of a transaction fee in the form of “gas” and the ability to create side chains using Loom Networ. Thanks to this, the platform has no problems with scalability and speed of operations.

# 3. Waltonchain: Software for IoT Technologies

Blockchain Startups in Logistics Waltonchain

Waltonchain RFID Tag Prototype

Year of foundation: 2016.

Location: Shenzhen, China.

Total funding: $ 10 million.

Web site: www.waltonchain.org.

One of the many enterprise-level logistics and supply chain solutions that integrate RFID data and IoT into the blockchain. The project is named after Charles Walton, inventor of RFID tags, and is in no way associated with Walmart, a network retailer. The startup is well supported in China and other countries of Southeast Asia, and has a number of interesting partnerships.

Benefits of the Waltonchain Blockchain:

  1. Improved security and reliability of the system thanks to blockchain technology, smart contracts and integration with cloud services.
  2. No need for central structures and oracles.
  3. Anti-counterfeiting through RFID identification.
  4. Accurate location tracking of the product.
  5. Lower labor costs

# 4. Yojee: a platform with its own brains

Blockchain Startups in Logistics Yojee
As a service, Yojee is more focused on continental rather than sea routes
Year of foundation: 2010.

Location: Singapore, Singapore.

Total funding: $ 17 million.

Web site: www.yojee.com.

The platform uses IoT, artificial intelligence (AI), blockchain, and deep machine learning to help logistics companies coordinate fleet coordination, track cargo, billing, manage jobs, and evaluate driver qualifications - all in real time. Currently, Yojee works with more than 30,000 vehicles and customers from Singapore, Indonesia and Cambodia.

Among the partners of the project can be noted:

  1. UPS Asia Group, a subsidiary of United Parcel Service.
  2. Sinotrans Integrated Logistics Australia (part of China's largest shipping and logistics company).
  3. DB Schenker Asia Pacific.
  4. Geodis Singapore Pte Ltd.
  5. Riverwood Logistics.
The main feature of Yojee is its focus on small and medium-sized businesses, rather than large corporate solutions and market capture. You can use the startup service for only 100 US dollars per month (up to 1000 items per month). In addition, Yojee is easy to connect to other business platforms.

# 5. VeChain: logistics platform

VeChain Blockchain Startups in Logistics
Partners of the blockchain startup VeChain Thor
Year of foundation: 2017.

Location: Singapore, Singapore.

Total funding: $ 230 million.

Web site: www.vechain.com.

A startup for developing and deploying decentralized blockchain-based applications focused on improving logistics processes. It uses IoT devices and networks, connecting them to a distributed ledger so that companies can integrate their payment and data management systems with the VeChain Thor protocol.

VeChain has partnerships with BMW and Groupe Renault car manufacturers, PwC Asia and NRCC consulting companies, and the global quality assurance and risk management company DNV GL. The project team actively collaborates with the University of Michigan and Oxford to improve their technology.

The following companies are using today:

  1. China Unicom is a telecom operator in China (4th largest in the country).
  2. Fanghuwang - a platform for lending to real estate and mortgages in China.
  3. Kuehne & Nagel is a transport and logistics company (20 billion SEK of revenue per year).
  4. Yida Future - a major developer (7th place in China).

# 6. TE-Food: Food Tracking

TE-Food Blockchain Startups in Logistics
How TE-Food works
Year of foundation: 2015.

Location: Albstadt, Germany.

Total funding: $ 19 million.

Web site: www.tefoodint.com; www.te-food.com.

A startup trying to bring together food manufacturers, distributors, retailers and consumers in order to eliminate fraud in the food industry and reduce logistics costs for companies. To do this, TE-Food uses RFID tags to track when and where food was produced, under what conditions the raw materials for it were grown and when it was delivered to the supermarket. All this is recorded on the blockchain and provided to the buyer through QR codes.

What solutions does TE-Food offer:

  • B2B application for companies and organizations (Android and iOS);
  • RFID technology to track product origin;
  • integrated trading solutions (smart scales, cash drawers);
  • Farm management software - control of feeding, vaccination, stocks;
  • interface for integration and interaction with third-party solutions;
  • user application for checking the origin of products;
  • QR codes to check the history of the origin of products, including those supported by the Zalo.me messenger (60 million users);
  • management and enforcement tools for veterinary services, police.
TE-Food is mainly focused on developing countries, since this is where this solution is most needed. Today, the project has business relations with more than 6,000 companies, makes 400,000 transactions per day and serves 100 million people.

# 7. MediLedger: drug logistics

MediLedger Blockchain Startups in Logistics
Benefits of Using MediLedger for Pharmaceutical Tracking
Year of foundation: 2017.

Location: San Francisco, California, USA.

Total funding: $ 16 million.

Web site: www.mediledger.com.

The project was launched by Chronicled in 2017 to ensure traceability of the origin of pharmaceuticals under the rules of the Drug Supply Chain Security Act (DSCSA), which will enter into force on November 27, 2019. MediLedger blockchain is used to achieve three goals:

  1. First, to store synchronized, publicly available data, ensuring that all network participants use a common “source of truth.”
  2. Secondly, to ensure the confidentiality of transaction data. Needed to comply with business ethics and DSCSA.
  3. Finally, DSCSA uses smart contracts to enforce business rules and execute transactions internally.
In addition, the system provides maximum protection for users' personal data, ensuring that they will not be published, transferred, sold or used without the knowledge and consent of their source. The information on the MediLedger network is so well protected that even the Chronicled manager does not have access to it unless their source wants it.

# 8. T-Mining: development of software for logistics

T-Mining Blockchain Startups in Logistics
T-Mining startup is not a platform, but a framework
Year of foundation: not announced.

Location: Antwerp, Belgium.

Total funding: not announced.

Web site: www.t-mining.be.

The startup is developing software that improves the efficiency of logistics and transport through better data exchange and secure transfer of ownership. Unlike other projects, for example VeChain or ShipChain, the development of T-Mining is not a platform, it is a framework. Startup is developing tools and ready-made template solutions that can be easily and quickly integrated into existing logistics systems.

Today T-Mining is testing three applications:

  1. Safe container transfer. It guarantees that only the driver (user) authorized in the blockchain can pick up the container in the terminal and initiate its movement along the supply chain.
  2. Secure workflow. It uses smart contracts and digital documents to automate workflow in logistics.
  3. Chain cooperation. Increases work efficiency through secure data exchange and more trustful cooperation between various parties in the supply chain.

# 9. SKYFchain: Automated Systems Management

SKYFchain Blockchain Startups in Logistics
SKYFchain - the first B2R-based blockchain platform (Business-to-Robots)
Year of foundation: 2017.

Location: Tallinn, Estonia.

Total funding: $ 5 million.

Web site: www.skyfchain.io.

An open platform for recording all key events occurring with cargo robots and recording all their interactions in the supply chain. The first cargo UAV on the SKYFchain operating platform was a vertical takeoff and landing aircraft called SKYF. It can fly 8 hours without refueling and has 250 kg (550 lbs) of payload. SKYF's first customers are logistics, agriculture and the oil and gas industry.

Although SKYF is a development of SKYFchain, the project is open to other unmanned vehicle operators and is ready to include third-party land and sea cargo robots / unmanned cargo vehicles in its system. In fact, the startup creates a marketplace where drone operators and shippers can find each other for mutually beneficial cooperation.

# 10. Zero1 Capital: Supply Chain Financing

Zero1 Capital Blockchain Startups in Logistics

Zero1 - a marketplace focused on supply chain financing

Year of foundation: 2017.

Location: Madrid, Spain.

Total funding: not announced.

Web site: www.zero1capital.com.

Zero1 Capital uses blockchain, cloud computing and machine learning to create a platform that will help SMEs around the world finance early stage supply chains. That is, this is another platform for lending / financing a business, sharpened by the launch of supply chains.

# 11. SUKU: SaaS Logistics Platform

SUKU Blockchain Startups in Logistics

SUKU is a platform offering Supply Chain-as-a Service

Year of foundation: 2018.

Location: Grand Cayman, Midland, Cayman Islands.

Total funding: not announced.

Web site: www.suku.world.

The SUKU project was created by Citizens Reserve, which is led by Eric Piscini, a former blockchain leader at Deloitte. It offers a scalable enterprise platform that makes supply chains and logistics more efficient, transparent and secure. In addition, SUKU has a marketplace with a buy-sell model and a reputation system with an intelligent partner search mechanism to expand commercial opportunities for users.

SUKU has great prospects, since among the shareholders of Citizens Reserve you can find JP Morgan (the largest shareholder) and Alibaba. Also among the management and consultants of this company you can find such heavyweights:

  1. Michael Casey (Chairman of the CoinDesk Advisory Board).
  2. Bill Shihara (co-founder and CEO of Bittrex Exchange).
  3. Lily Liu (co-founder of Earn.com, transferred to Coinbase in 2018).
  4. Matthew Roszak (co-founder of Bloq and founder of Tally Capital).
  5. Jack Lee (founder and managing partner of HCM Capital).
This is a very impressive list that will appeal to both potential investors and potential SUKU customers.

Merehead does professional development of blockchain startup in logistic. If you have questions, contact us for a free consultation.

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