Blockchain For the Logistics Industry
Mayora Infotech has developed a blockchain-based cargo shipping framework that ensures player confidentiality, transaction advertisement, and process automation.
The Mayora Infotech team faced a difficult task of designing a solution for giant cargo shipping companies who need to maximize distribution and allow anonymous operations to be conducted at the same time, so that rivals will not have access to information on routes and supplies. The system specifications included: anonymous players, public transactions, automatic dispute resolution, automated procedures, anonymous flow optimization.
We agreed to use Blockchain to fulfill the customer’s demands. Such an approach permitted anonymous cryptocurrency requests and payments with real money involved only at the stages of input and output.
The developed framework operates in a way that guarantees both player anonymity and transaction publicity. There is an individual cipher key for each user of the service to submit transaction requests, and there is no possibility of decoding those users and making adjustments to the requests. If the request plan has been accepted by the request issuer, it becomes a transaction, a real request for delivery. Only after the contract is concluded is the transaction completed. A transaction fact is public while the request data is shielded. The framework analyzes information about each transaction. Entry to unfinished transactions by the scheme enables enterprises to reduce costs on unneeded operations by identifying ‘fitting’ operations. The following example of the explanation illustrates how it works.
Imagine that on various continents there are two logistics companies: Company 01 and Company 02. Both businesses intend to ship the same thing. Company 01 would ship it to the A drop zone and then to the B drop zone overseas. The same needs to be achieved by Company 02, but in the opposite direction. The device analyzes shipment data and recognizes this match, offering companies to escape the shipment process overseas, seen as orange arrows. For both businesses, such a ‘miracle’ results in substantial time and expense savings.
In the systems, each transaction ends with tokens going to a logistics operator.
While payments are only possible with tokens in the scheme, the Clearing Bank offers the final exchange of tokens for fiat currencies, ensuring real money for businesses.
For giant shipping companies, the Mayora Infotech team has built a solution that provides protection and privacy for its users’ data, as well as transaction ads. The system analyzes each transaction to allow businesses to cut costs on unnecessary shipments.
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