Swiss Based 'Smart Containers Group' is using blockchain to disrupt two industries that go hand in hand - distribution, and logistics. In order to disrupt these two industries you first need two types of tech - both hardware, and software.
First with distribution, they're targeting materials that are deemed extra-sensitive and important to have efficient tracking and controls over - foods and pharmaceuticals, to be shipped in their smart containers. These items require more data and monitoring with their shipping, as well as temperature controls to keep the materials being shipped safe for eventual human consumption. Everything from transport time, to temperature variance can effect the product inside the container greatly.
For example, $1.1 trillion worth of pharmaceutical products are shipped around the globe each year - but the W.H.O (World Health Organization) estimates that 40% of vaccines degrade due to temperature deviation during transport.
Then obviously, foods spoil in a similar way - so the food industry benefits from these same additional control mechanisms.
They began addressing these issues 8 years ago when the development of their Smart Containers began, and were designed to solve these issues working in collaboration with EU based scientific laboratories (EMPA – Leading Swiss Institute for materials science and testing, Fraunhofer Institute – leading German Institute for materials science and testing.)
Secondly is a software based solution bringing the logistical aspects onto the blockchain. This project of theirs is titled "Logi Chain" and aims to rid the industry of the slow and still paper-based management systems it currently runs on, and to replace that with smart contracts, and automated billing through cryptocurrency.
"What we do is combine hardware and software, so it's not one aspect that wins it, it's the combination. This is the vision of myself and my co-founder Nico, that smart contracts can actually decentralize the logistics industry to become really efficient, because logistics is (already) a decentral process, but it's handled centrally. That's why you need to handle a decentral problem with a decentralized solution." says Co-founder and CEO Richard Ettl.
Using Logi Chain, everyone who has a part in the transaction (customs officers, freight forwarders, contractors, shippers, buyers, warehouse workers) can have their relevant information mirrored on the blockchain making data they need instantly accessible to them.
The project is already full steam ahead, and Smart Containers Group has already raised more than $25 million in investments from traditional funding investment rounds between the 4 companies it includes - Smart Containers Group, SkyCell & FoodGuardians.
Their public ICO date hasn't been set yet, but we recommend following the project by joining their e-mail list at https://smartcontainers.ch
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Author: Ross Davis
San Francisco News Desk
