This article is written in partnership with Morpheus.Network (find out more)
Morpheus.Network, the solution the supply chain has been waiting for?
In an ordinary supply chain, there are on average more than 40 points of contact between the different entities involved. A simple international shipment of any product can generate dozens of physical documents, from multiple different sources.
All these contact points may be subject to irregularities due to human factors: classification errors, delays in sending documents, lost packages, delays in payments, etc. For sensitive products, the slightest mistake is likely to be catastrophic. It is therefore even more important to reduce the risks in these situations.
With the aim of filling the current technical gaps in supply chains, the platform developed by Morpheus.Network is a middleware solution ensuring interoperability between different networks. Indeed, supply chains have very diverse needs in terms of functionality, privacy and scalability.
Thus, the Morpheus.Network platform is based on the blockchain and uses smart contracts to connect several distinct systems and automate actions based on predefined events. In particular, it uses IPFS, a peer-to-peer content distribution protocol, to store and retrieve international customs and shipping documents in a distributed and verifiable manner by all concerned entities.
This multi-tasking software solution brings all the data together on a single platform, makes information interchangeable and enables the full automation of previously manual processes. Morpheus.Network client companies can easily integrate new technologies into their existing processes, specifically blockchain or even the Internet of Things (IoT).
As a link in the chain, Morpheus.Network helps to bridge the gap between traditional solutions and innovative products using smart contracts. Unlike other existing solutions that rely on proprietary blockchains, thus ensuring vendor lockdown and limiting scalability, Morpheus.Network takes another direction and has chosen to integrate with multiple existing protocols.
To cover the most varied requirements, Morpheus.Network therefore lets its users define which parts of their processes are powered by public or private networks, giving them the possibility of using different blockchains. Current integrations include Ethereum, Hyperledger, Binance Chain, EOS, Litecoin and more will be integrated in the near future.
The entire Morpheus.Network ecosystem is protected by HackenProof, a decentralized bug bounty platform that takes a proactive approach to cybersecurity. Although Morpheus.Network has its own team dedicated to the security of its solutions, the security researchers at HackenProof provide an additional layer of protection.
Morpheus.Network, a middleware unifying all the needs of the supply chain
What are the roles of the MRPH token?
The MRPH token is the fuel of the platform created by Morpheus.Network and feeds its entire ecosystem.
This ERC-20 token issued on the Etheurem blockchain is required to pay fees related to smart contracts, which are used as predetermined and automated employment contracts, shipping and customs documents, or automated international payments.
The MRPH therefore governs the exchanges that take place between all actors in the supply chain, and also plays a role in the payment of the costs necessary for data storage.
In addition to this, Morpheus.Network provides a software development kit (SDK), so that developers can easily create custom modules for a dedicated marketplace. The putting into production of these modules will be previously validated by the blockchain by committing MRPH tokens.
Under the MRPH ticker, the Morpheus.Network token is available on many platforms, including Uniswap, Bittrex, Bilaxy or HotBit.
MRPH token logo
👉 For more information, visit the Morpheus.Network website
How does Morpheus.Network’s solution materialize?
The platform developed by the Morpheus.Network teams relies on ease of use. Thanks to a “drag and drop” interface, users can very quickly translate previously manual processes into a digital action flow.
Morpheus.Network Black offers a range of more than 100 preselected modules that represent the technologies most used in global commerce, as well as innovative tools related to blockchain, machine learning, Big data, and even international law.
These modules include: robotic automation for the production line, document generation and storage with IPFS, product compliance for imports and exports, shipment alerts (temperature / shock / humidity) , product tracking via QR codes, but also the integration of international payments in fiat and cryptocurrencies.
As mentioned previously, Morpheus.Network users have the possibility of creating their own modules, to then offer them to other companies linked to this ecosystem. Middleware solution, Morpheus.Network therefore acts as a gateway between all the products currently linked to the supply chain.
Morpheus.Network dashboard overview
Designed for large-scale use, Morpheus.Network must forge numerous partnerships to ensure its success. To do this, the platform is a member of the Blockchain in Transport Alliance, an organization that brings together several behemoths in the transport and logistics industry who are closely interested in blockchain. These include FedEx, DHL, UPS, JD Logistics, Penske, Salesforce and even SAP.
Morpheus.Network removes existing barriers between stakeholders by creating a layer of mutual trust without requiring all entities to use the same mechanisms and blockchains. Therefore, this platform offers a transparent system for the exchange of information and data.
By bringing together the once separate layers of payments, physical goods and specific supply chain services in a single architecture, Morpheus.Network enables companies to reduce costs and design new services.
Competition from blockchain solutions in this sector is fierce, but Morpheus.Network could really do well thanks to the interoperability it offers.
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About the author: Clément Wardzala
Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.