Charles H. Miller
It has been said that blockchain makes a lot of sense in the logistics industry. So far, however, the technology has mostly been associated with giant companies which wanted to use it to streamline their operations. That, however, doesn’t mean there are no startups in this space; and today, we are presenting you with one such project.
An app for parcel shipment management
The name of that project is Triwer and it aims to create a system that would automatically plan the best delivery route for every parcel. Said system is currently under beta testing and will be available for download soon.
Triwer will also use multi-party smart contracts to include multi-carrier options to the mix — the process that may entail insurance — and will be recorded on the main blockchain but with constituent parts, processes and obligations transferred to a sidechain.
The platform will allow smart contracting, delivery management, tracking, escrow and payment; with smart contract unifying tracking across the sidechain until the final mile delivery is ready for dispatch through a Triwer crowd delivery driver. Upon confirmation of receipt, the contract is concluded and recorded on the main blockchain, and payment distributed to each constituent of the contract.
Additionally, Triwer will feature the ability to share spare capacity and use resources that are already making a similar journey and improving efficiency. This in turn will reduce both the cost and emissions on duplicated journeys, making for an eco-friendly solution.
“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”, according to the project’s white paper.
The game plan
The company will start by focusing on small to medium sized e-commerce sites, incentivizing users to install the Triwer app in order to channel deliveries through the Triwer network. Specifically, the idea is to go for the European courier express and parcel market through acceptance of its automated DLT (Distributed Ledger Technology) platform and TRW token.
Speaking of which, TRW tokens will be used for all payments on the Triwer network, with the platform organizing wallets for all main counter-parties and stakeholders. The app will also incorporate an exchange application that automatically transfers fiat currencies or other cryptocurrencies into TRW to transact along the smart contract.
Triwer’s crowdfunding campaign has been running since June 1 and will remain open until the end of the month. The soft cap is $5 million, and the hard cap is $25 million. The value of a single TRW token equals to $0.08, and there are also bonuses available under the bounty campaign.
