Blockchain Startup Develops an Uber-like App for Parcel Shipment
A platform intends to use the distributed ledger and Ethereum smart contracts for logistics management.
Triwer, a blockchain-based logistics platform, is working on an app for the parcel shipment which would automatically plan the best delivery route. According to the company’s website, the app is currently under beta testing and will be available for download in Q2 2018.
Smart contracts and shared space capacity
"Triwer has built in a number of unique selling points which we believe will make Triwer an industry online standard in much the same way as Uber in the private taxi sector or AirBnB in short term property rentals", Triwer's white paper says.
The core idea of the Triwer App is that it will automatically select the most appropriate and best value delivery route, including multi-carrier options by means of a multi-party smart contract. In particular, such a smart contract may include insurance and will be recorded on the main blockchain but with constituent parts, processes and obligations transferred to a sidechain.
A blockchain management platform will allow smart contracting, delivery management, tracking, escrow and payment. According to the project’s white paper, the smart contract will unify tracking across the sidechain, as the package is booked in and out of key waypoints and transfers between carriers, until the final mile delivery is ready for dispatch through a Triwer crowd delivery driver. Upon confirmation of receipt the contract is concluded, the completion is recorded on the main blockchain, and payment distributed to each constituent of the contract.
One of the project's features is sharing spare capacity and using resources that are already making a similar journey and improving efficiency. According to Triwer team, that scheme will reduce emission on duplicated journeys, and eventually will have significant effect on traffic congestion.
Sales will focus on signing up small to medium sized e-commerce sites and attracting their customers to install the Triwer app through various promotions and incentives in order to channel deliveries through the Triwer network, says the white paper.
Conquering the market
According to the project's white paper, Triwer aims to take a significant share of the European courier express and parcel market through acceptance of its automated DLT (distributed leger technology) platform and TRW token.
“All transactions with the main or side blockchain must be electronic and hence Triwer’s encrypted electronic token the TRW will be the operating currency across the platform”, says the text of the paper. Triwer will organize wallets for all main counter-parties and stakeholders.
The app will also incorporate an automated exchange application, such as ‘Coinify’, that automatically transfers fiat currencies or other cryptocurrencies into TRW to transact along the smart contract.
Triwer has launched its crowdfunding campaign on June 1, 2018. The public token sale will remain open until June 30, 2018. The soft cap is $5 mln, and the hard cap is $25 mln. 1 TRW coin equals to $0.08. A bonus is also available under the bounty campaign.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.