- Mar 14, 2018
- 79
- 4
For a long time, imports and exports have brought tremendous commercial value and are the backbone of many economies, but cross-border transportation and certification is always difficult. Any of the importers, exporters, freight forwarders, customs brokers, shipper, seaport operators and more will result in large-scale payment delays. The writers themselves have also encountered such hassles in shipping foreign orders, and going through each country, the number of legal papers will be far more complicated.
To solve this problem, the Morpheus Network was formed by experienced staff in the industry to solve the global supply chain ineffective, resulting in a global supply chain platform, itself global, for the global trade industry, using blockchain technology. We recognize blockchain as a technology used extensively in the supply chain to see breakthroughs in automation, optimization, security, visibility, and forecasting.
At scale, the Morpheus Network has the potential to save the industry billions of dollars. According to the World Economic Forum’s report Enabling Trade: Valuing Growth Opportunities, reducing barriers within the international supply chain could increase worldwide GDP by almost 5 percent and total trade volume by 15 percent. This equates to a global economic boost of up to 3 trillion USD!
What’s The Morpheus Network ??
Morpheus is a global support network for imports and exports, with the power of blockchain technology, which provides a way for people to transport and pay for goods safely, quickly and transparently. Morpheus understands that import and export are currently under-resourced, with “legal papers” and “payments” being two of the most important aspects.
For legal papers:
Morpheus Network utilizes a blockchain which provides a hybrid between the ‘lower-trust’ model of public blockchains and the ‘single highly-trusted entity’ model of private blockchains. The Morpheus Network Permissioned Blockchain maintains the privacy of the user’s data, without consolidating the power with a single organization.
A trusted Morpheus Network Consortium will be established to control access to the blockchain and will play a role in maintaining the blockchain in a decentralized manner.
Document records on the blockchain can be accessed only by authorized participants; this can be all participants or only those that need a particular portion of the data. Document ownership and access can be anonymous yet securely identified between partners who require verification. In short, it can be widely shared and protected at the same time.
Documents are stored in an off-chain container which allow Morpheus Network Smart Contracts to harness the full power of the blockchain’s capabilities while protecting private data. This ensures the correct balance of privacy and transparency. One feature of blockchains is data immutability; once data has been written to a blockchain nobody, not even a system administrator, can change it. This benefits the Morpheus Network users by creating a secure audit trail of all documents and transactions to ensure compliance with local regulations.
For payment:
The Morpheus Network enables suppliers, manufacturers and exporters from around the world to receive their local currency in over 200 countries globally. Conversely, purchasing importers can send their own country’s currency to finance purchases in other countries. This is accomplished through integration with SWIFT which allows a direct transfer of funds into over 1600 banks. Therefore, the network allows any company or individual to complete any complex international purchase and shipment, no matter the scale of the transaction, smoothly, easily and instantly.
The Morpheus Network is the first platform designed to execute large money transfers to over 1600 banks internationally, using the newest and fastest blockchain technology, as an objective in a Smart Contract for globally transacting businesses. It is designed to be used by importers and exporters replacing traditional bank wire transfers which are expensive, slow, unsecured and simply outdated.
To give an example, China is currently the most expensive major currency corridor, according to the World Bank, with the average cost of sending $1000.00 (£700.00) from the UK to China standing at a staggering US $98.00 (£68.60) or 9.8%. Compare this with the small Morpheus Network fee of 1%.
Another advantage of the Morpheus Network which increases importer or buyer assurance, is our ESCROW payment service. Based on the predetermined Smart Contract, with escrow payment in place, the funds will only become available to the exporter following completion of the Smart Contract’s objectives. Complete trust in a seller is achieved since all the objectives in the Smart Contract must be completed prior to the automated releasing the funds to the merchant!
In addition, the Morpheus Network is using Artificial intelligence (AI) to further optimize any supply chain by gathering vast amounts of logistical data off of the blockchain. These findings allow container shipping ports to be planned and routed in advance and as necessary based on global traffic, port delays, weather as well as many other factors and sources of data. AI is also being used to prepare compliance documentation for an import, generated by the Morpheus Network, by more accurately estimating port arrival times.
With what I have shown, I believe that Morpheus’s project will be a worthwhile one. You can learn more about their greatness in the white paper attached below or website: https://morpheus.network/
Development team and contact information.
Sell and allocate tokens:
More infonation:
Website: https://morpheus.network/
Whitepaper: https://morpheus.network/whitepaper/
Telegram: https://t.me/themorpheusnetwork/
Facebook: https://www.facebook.com/themorpheusnetwork/
Twitter: https://twitter.com/morphcrypto
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
Success comes from ideas, starting with enthusiastic people and flying high by the whole community
-Author: Hoangvuhk3110
-Link Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1805177
