IBM has estimated that the use of blockchain could save the logistics industry approx $38 billion. IBM and Maersk have already carried out a test case using a batch of avocados shipped from Mombasa to Rotterdam. The calculated costs of the shipping container itself is more than $2,000. The cost of associated paperwork comes to $300 i.e; 15% - 20% of total costs. These costs can be reduced to zero by distributed ledger technology. The final savings for the industry are calculated with due regard to the fact that global traffic is about a humongous 70 million containers a year.
From dispute resolution to administrative efficiency and order tracking, blockchain has the answer to the the problems that have been plaguing the transportation industry for decades. Let's explore some of these issues.
There are countless other problems that can be cited here but what if we could have one solution that overcomes it all. What if we could remove the need for intermediaries in the world of logistics? What if transactions could be verified, recorded and coordinated autonomously without third parties? What if we could have a solution that is secure, fast, free, reliable and trusted by everyone regardless of any prejudice.
The solution is right here in front of you.
Logis coin is a proof of stake/masternode coin developed by the same team that developed Lightpay coin - one of the hottest coin of the year 2018. The success of Lightpay coin speaks for itself. And if nothing else, it ensure that Logis Coin is in safe hands.
Logis is all set to revolutionize the way logistics industry works. Right now, this technology is still far from maturity with many challenges to overcome before it can be effectively deployed at scale in the logistics industry. Likely the greatest test will be in accomplishing successful industry adoption through coordinated efforts and even coopetition between various supply chain stakeholders that have legacy processes and varying interests.
But to give you an idea, Logis users and customers will be able to track the entire route of the ordered goods before they fall into their hands. The network behind the shelf of the store will no longer be hidden, which will allow the client to make more informed decisions. This would not only help the users but also increase the trust level on companies with increased transparency for audit protocols. Also, enabling the supply chain companies to detect frauds or prevent where there's little to no oversight.
Coin Specs/Market Performance
LGS has a total of 21 millions coins similar to Bitcoin. The current supply is only 215208 LGS. The model is pretty much the same as LightPay coin. For a masternode, you need 1000 coins as collateral. The block rewards varies from one phase to another phase. The details on the block rewards and profitability can be found here.
If you are interested in buying a masternode, make sure to check out details on the masternode.online site. As of now, LGS is ranked third on the list.
The current price for one LGS is $11.53 and there's only a handful of coins available for sale on the exchanges. LGS is currently on the top in terms of volumes with a max of 70 BTC daily volume on CoinExchange alone.
Here's a list of some of the market's it's traded on.
Community Support
The shipping and logistics industry is looking for new technologies in order to enhance the existing procedures, cut costs and maximize the transparency of the supply chain. The blockchain technology offers a solution to most current issues. There are certain challenges associated with the implementation of blockchain, but the more companies start implementing this technology, the more examples of fruitful utilization we will see. There is a number of effective implementation strategies that are being tested now, and the industry is going to change forever as more organizations get involved.
A vibrant community is as vital as technology. If you know anything about LightPay coin, you would know that these guys are damn good with their community development. They are blazing fast with updates, listing, and other activities. LGS social media outreach is immense and support structure is very friendly and 24/7 available. If you are thinking about investing I would advise you to join their Discord server to remain informed.
Conclusion
The shipping and logistics industry is looking for new technologies in order to enhance the existing procedures, cut costs and maximize the transparency of the supply chain. The LGS blockchain-based platform offers a solution to most current issues. There are certain challenges associated with the implementation of blockchain, but the more companies start implementing this technology, the more examples of fruitful utilization we will see. There is a number of effective implementation strategies that are being tested now, and the industry is going to change forever as more organizations get involved. LGS is just a start in that regard.
If you would like to know more about LGS, visit https://logiscoin.cc/ or read the whitepaper.
:۞:••:۞: Thank you for Reading :۞:••:۞:
Recommended Crypto Services
FIAT-Crypto Trading || Crypto-Crypto Trading || DEX Trade || Trade High Risk/Profit Coins