White paper: Building the Blockchain Logistics Protocol
1.0 Digital Logistics For Emerging Markets
Logistics and transport management is as old an industry as the economy itself and generates approximately 13% of GDP globally (The World Bank, 2016). To transform any industry is a bold goal to have, but in this age of growing demand for consumer goods in emerging markets, a space has opened for a provider who can effectively deal with the excessive levels of fragmentation in the supply chain, and offer a more transparent, cost effective platform for solving the basic problems of distribution to the new consumers of India, China, Indonesia, Philippines, Pakistan and elsewhere.
OpenPort has already achieved a beachhead in the new space of digital logistics for Asia’s 4 billion consumers, establishing ourselves as the only multi-market provider of ERP (Enterprise Resource Planning) integrated ePOD services from any transporter. While driving consistent revenue growth, which has given us traction and proof of our system’s capability in the market, OpenPort has identified the greatest business problem in our industry to be the constraints of paper, and the need for secure, timely data to drive cash flow from retailer to brand owner and brand owner to transporter.
Blockchain, as the technology driving a revolution in the transfer of financial ownership, now has an opportunity to fundamentally change the way physical movement of goods is managed (AffinityBlockChain, 2017). OpenPort will utilize blockchain to lead a paradigm shift in the security and traceability of goods in the supply chain, and create a token connecting payment to movement within our transport marketplace. This will optimize the flow of working capital through the supply chain and setting in motion a transformation of how goods and payments flow from one party to the other.
OpenPort’s innovative business model and technology unleashes the potential in emerging markets by targeting the inefficiencies of the legacy model – sub-contracting without visibility, paper-based proof of delivery and lengthy payment terms. Instead, we focus on maximizing existing transport asset utilization through a neutral, data driven procurement marketplace and delivering real-time status updates from tender through to delivery for lower costs, increased control and improved cash flow.