Although the modern logistics market is IT-intensive, it is highly fragmented and clustered by information barriers. This usually leads to low volumes and high prices.
IMMLA’s mission is to make transportation logistics faster, safer and cheaper for cargo owners and freighters. IMMLA will use blockchain based smart contracts to eliminate the problem of trust, information barriers and legal costs in the global logistics industry.
Most of the risks in the logistics industry are associated with finances and deficiencies in the transmission of information, which oftentimes is inaccurate or incomplete. By using blockchain-based smart contracts, IMMLA will automate the transmission of contract information, ensuring its accuracy and completeness.
After a successful pre-ICO that raised more than $500,000, IMMLA recently began its ICO, aiming to raise $38 million.
A Broker’s Board
IMMLA will essentially function as a broker’s board where cargo owners can find the most optimum freight conditions and price.
Board users will include service providers – carriers, freight owners, forwarders, customs brokers, insurance agents and legal advisors, etc. – and service buyers – shippers, cargo owners, logistics operators, etc.
Shippers today are typically required to use several transport exchanges because existing transportation exchanges do not want to be responsible for cargo at different stages of transport. Trucker Path is for delivery by land to the port, Freightos for delivery by sea, and Transporeon from port to warehouse.
The centralized platforms typically cannot manage damage-tolerant, in-time and competitively-priced transportation.
A New Logistics Platform
IMMLA, by using blockchain technology, provides customers with a new way of interacting with the logistics market.
A blockchain smart contract can automatically execute mutual settlement according to data stored on the blockchain.
IMMLA will integrate with existing tracking providers over their own protocols (https, mqtt and others) and deliver aggregated, unified data to its users.
All payments through IMMLA’s service will be performed in a single currency, the IMMLA token.
Unlike other logistics platforms, IMMLA will allow users not only to book available logistic services, but also provide a contract between parties with full financial guarantees.
A key feature of the platform is multimodality – connecting various freight modes, including sea and air carriage, with a single bill of lading. Services also include warehousing, distribution, customs clearance and legal support.
First Market: Russia
IMMLA will launch first in the Russian logistics market due to advantages unique to that market. In 2015, satellite tracking devices were installed on all Russian cargo trucks, enabling a data tracking system for the entire Russian fleet. This will allow developers to deploy ubiquitous online geo-tracking of cargo with the recording of ownership transfers.
The development plan includes the phased implementation of modules: forwarding, air, railway, sea, customs and warehouse.
In 2018, the first services to launch will be for auto and sea cargoes as they represent the best fit of high demand for multimodal contracting and low implementation complexity.
In 2019, the company will expand the range of services to include air transportation and customs services.
In 2020, forwarding and warehouse modules will be implemented.
In 2021, a railway module will be added.
The revenue goal for 2018 is $1 million. The goal for 2019 is to reach $10 million in revenue, to expand to Eastern Europe and China, and to add air and custom modules.
The goal for 2020 is to reach $25 million in revenue, and to add warehouse and forwarding modules.
ICO Started
The ICO is running from Sept. 15, 2017 to Oct. 15, 2017.
IMMLA will issue 445,122,735 IML tokens in two tiers: pre-ICO and ICO. After completion of the ICO, additional tokens will be automatically issued for founders, team and bounty participants, amounting to 18.5% of all tokens.
At a rate 300 USD/ETH, a total funding of 122,888 ETH would raise about $36,866,400.
ICO funds will be held in a smart-contract escrow. The minimum capital required for development and release of the IMMLA platform will be raised during issuing of first 18 million IML tokens. The ICO tiers will be secured through an automatic smart contract. If less than 18 million IML is raised, the collected ETH will be automatically returned to the contributors.