Blockchain-Enabled End-to-End Digital Logistics Platform to Solve Smuggling

[Ozark]

A Philippine-based company is launching a blockchain-powered end-to-end digital logistics platform that will promote transparency in one of the most corrupt industries.

A Philippine-based end-to-end digital logistics platform that is powered by blockchain technology is envisioned to end illegal activities in the shipping and logistics industries, particularly smuggling, corruption and even diverted shipments.

In an interview with Cryptovest, Joey Union, chief operating officer of Shiptek Solutions Corp., said XLOG is designed to provide shippers an integrated suite of logistics tools that allow the streamlining of logistical workflows and enable frictionless shipping transactions.

“Because our platform is powered by blockchain, all the data stored in the platform is immutable, meaning they could not be altered with, faked or hacked,” Ynion said. “This eliminates the possibility of smuggling, particularly using fake documents to smuggle goods or fake consignees to hide the real identities of the smugglers.”

Nico Gonzales, Shiptek’s chief marketing officer, added the company had initial discussions with the Bureau of Customs, the country's watchdog on the importation of goods as well as the authority in anti-smuggling drive, but the negotiations stopped after the change in leadership in the agency.

However, Gonzales remains optimistic the discussion would restart, and hopefully, the government adopts their platform to discourage criminal activities within the logistics industry as well as to hasten transactions through transparency.

He added the company is scheduled to launch XLOG by January 2019 fully and is targeting to become a global company within the next five years.

Ynion added, "In 2017, the global logistics market reached a value of $10.32 billion, and this is expected to hit $12.68 billion by 2023. This just proves that the logistics industry remains an important contributor to every country's growth. However, despite its importance, logistics is in dire need of an upgrade, with many of its processes still very much manual."

He explained XLOG aims to make logistics smarter and more efficient by providing tools that allow shippers fast and cost-effective online booking, end-to-end shipment monitoring and easy transaction management.

Jun Ynion, founder and chief executive officer (CEO) of Shiptek added: “As a logistics expert working in the industry for almost 25 years, I recognize where the logistics industry is at the moment. It is governed by unnecessary costs that are inexorably increasing at every opportunity. It is influenced by wrong perceptions, made so because the right data are not available, which then contributes to a detrimental environment for everybody involved in the business of logistics. But now we have XLOG, a technological advancement that promises to breathe life into the industry, XLOG’s bottom line mission is to improve companies’ bottom line.”

In June this year, Ynion told Cryptovest he envisioned XLOG as creating a million jobs with his blockchain project. This could be achieved by creating an online marketplace for the shipping and logistics industries that offer companies that require such services.

SOURCE