End of FY17/18 Update: Including blockarray masternodes, Smart Containers FINMA compliance and Cargo X smart Bill of Lading launch.

With crypto being such a fast-moving industry, project posts can quickly become out of date or even misleading. With the close of the financial year and current bear market, it seems appropriate to revisit featured projects and have a look at any key partnerships, developments and releases.

 

blockarray

Blockarray is a smallcap token (market cap of under $10 million USD at time of posting) undergoing somewhat of a rebrand to target specific sectors of the trucking market. Previously looked at in this post, Blockarray have released a new website, aimed at enterprise solutions to issues in the trucking sector.  Based out of Chatanooga, Tenessee,  part of their offering is helping logistics firms deal with the Electronic Logging Device mandate that recently came into force. Their work with Tennessee reps have borne fruit with a bill passed that recognises the legal authority to use distributed ledger technology and smart contracts in conducting transactions.

They’ve announced their co-sponsorship of the ETHMemphis hackathon with FedEx and released more details for the Blockarray masternodes on the mainnet last week, beta testers have also been selected. This includes confirmation that rewards will be paid out on top of hosting costs has seen a huge response from the community.

A new whitepaper is expected to be released within the month to reflect the shift in direction, and the new 3 month rolling roadmap linked here. I would highly recommend following their Medium, as it is updated on a consistent basis with lots of information on what is currently a rapidly transforming project. This post goes someway to describing the direction the project is taking, and more information about the token utility is posted here.

 

smart containers ico

The Smart Containers project is still in it’s pre-ICO stage, but there have been a few developments that look to be positive steps for the firm.

The revenue-sharing model the SMARC token is using (like Modum) has caused a fair bit of discussion around the token-as-a-security issue. Smart Containers responded with this recent tweet:

We’re proud to announce that Swiss authorities have confirmed to us the legal compliance of the to Swiss Financial Market Law. This is the basis of Smart Containers’ goal to be a role model in the ICO space.

During the Modum ICO, similar messages came from them, and no backlash from regulatory bodies has happened as of yet, although importantly neither has any acutal revenue sharing. However considering  FINMA recently set out its guidelines, it’s probably safe to assume everything is above board.

AmaZix, noted crypto community project managers who are probably most well known for working on ICOs for Salt and Bancor,  have been brought on to run the BitcoinTalk bounty thread and Telegram. The Telegram group membership has spiked from around 80 to 2.1K in the past month, a testament to both the word of mouth getting out around the project, and to AmaZix.

Richard Ettl, the co-founder and CEO of Smart Containers Group recently featured on the Futuretech Podcast, it’s only 20 minutes so definitely worth a listen to some insight on the project. The firm’s business development manager Carla Bünger pitched at the Blockchain Leadership Summit, held in Zurich. Here’s a video of the presentation, again worth a watch for a little more up to date information than in our previous post back in February.

origintrail

The team at OriginTrail have been hard at work to maintain the roadmap and launch their mainnet on schedule. Recently, release V0.5 – Ranger was launched, the third to six official releases before the testnet launch. This included a major rewrite of the network layer, a restructured codebased to provide more scalable and testable architecture, and an improved version of the payment mechanism.

The next release will include the bidding mechanism, and initial implementation of the zero knowledge layer. OriginTrail is still improving the team, recently adding two new senior software engineers. OriginTrail also maintains a high level of transparency on their GitHub with major releases every two weeks. Recently they’ve posted an OriginTrail Implementation Kit, a guide to how firms can set up pilot projects over on their Medium, and is a great read.

My favourite recent update of theirs though is more information on one of their pilot projects I first mentioned back in January. The pilot consists of using TagItSmart sensors to provide supply chain authencity to Plantaze’s award winning wine range. It’s the first time OriginTrail will be used for data coming in from smart tags. and will start with tracking 15,000 bottles of wine. Cementing authenticity of goods is one of my key use cases of blockchain and this is recognised by other bodies.

Wine is one of the most counterfeited products in the world. This not only poses harm to brands and wineries that are producing wine of the highest quality, it is also a public health hazard, since some of the counterfeit ingredients can be poisonous. In China, by some estimates, as much as 50% of all wine sold is counterfeit or mislabeled to deceive consumers.

Read the study of the pilot program here.

And finally, Žiga Drev, the founder of OriginTrail tweeted last week he would be helping to discuss smart farming and EU agricultural policy with European Commissioner Phil Hogan and agricultural minister Zidan Dejan at the European Action for Smart Villages event. It’s great to see involvement like this with top-level government officials.

cargox $CXO

CargoX has also made rapid steps since it’s ICO at the turn of the year to become a well established project. To kick things off, a partnership was inked with Milsped Group, a European logistics leader, based in the Balkans, to test and evaluate the CargoX blockchain solution to bills of lading. The Milsped Group has an annual income of 102 million euros, with over 147300m² of storage space. With close to 2000 employees, and 57 customs branch offices, its a serious contender in the European logistics space.

Last week the CargoX Smart B/L bill of laden slution was launched to a live audience at the 6th International Logistics Congress in Slovenia, and to members of the French Transport and Logistics Association in Paris. In Slovenia, the audience included over 250 managers from logistics firms across the globe. The press release states:

The startup has already signed up several logistic companies as partners, including the European logistics leader Milšped Group from Serbia, and is in talks with other major freight organizations.

A working product, with confirmed customers and more potentially in the wings, not even 6 months following the ICO? Sounds like a project with real fundamentals to me.

Any thoughts? Follow me on twitter!

If you liked this, you may like this article: Smart Containers ICO – Temperature controlled containers & IoT sensors on the blockchain.

Smart Containers ICO – Temperature controlled containers & IoT sensors on the blockchain.

smart cotainers skycell

The upcoming Smart Containers is a fantastic use-case for blockchain technology by combining IoT sensors and passive temperature-controlled containers with the blockchain to provide a immutable record of cargo temperature as it’s being transported.  Smart Containers Group AG. is actually a holding company for two firms, SkyCell and FoodGuardians.

SkyCell has used cutting-edge technology to develop containers that use IoT sensors connected to their data cloud, that utilises blockchain technology to remotely monitor each container to ensure the product temperature is consistent during transport. SkyCell transports some of the most expensive and temperature-sensitive goods in the pharmaceutical industry, this monitoring is absolutely essential as it enables companies to comply with legislation from the EU regarding the delivery of medicinal products.

The FoodGuardians business has a similar offering – reusable containers and boxes to transport sensitive food products across regions or the globe. Their patented cooling technology is a big selling point (The holding company holds over a hundred patents at time of publish), with the vision of having secure food safety through track and trace on the blockchain. The firm also touts cost efficiency, and a reduced carbon footprint as the storage units are reusable.

This article will mostly focus on the SkyCell aspect of the business, and the initial token offering for the SMARC and LOGI tokens, rather than the the FoodGuardians business.

Links with Modum

For those who have read the two previous articles written on Modum.io, may be seeing some similarities creep in through the SkyCell business, with IoT sensors monitoring pharmaceutical products. They both even have offices in the same building at Technoparkstrasse! The initial token offering FAQ clears up the confusion around this quite clearly though:

Modum rents/sells devices for track and trace to customers, whereas Smart Containers rents/sells containers, not the data. Of course the containers have sensors that record data for quality control, but Smart Containers does not sell these data sets. In the end Modum and Smart Containers will address to the same clients – Smart Containers provides the container and Modum will put a sensor in it.

SkyCell – Not just a whitepaper

One of the most exciting aspects around the initial token offering is that SkyCell is a fully operational business already making use of blockchain technology, with revenues and partners in place.

There are a variety of different sized containers, all plug and dry ice free. They’re easy to handle, and made from recyclable materials. The patented-in house developed cooling technology stores five times more energy than traditional methods to keep the container at a consistent temperature. After use, they are ‘recharged’ in a cooling chamber without any need for manual intervention, increasing productivity of the business and reducing cost.

sky cell containers

An example container used by SkyCell.

SkyCell customers order a container, which SkyCell deliver to usually the production facility. The customer then ships it via one of over 30 airline partners, SkyCell will then collect at the destination airport, or other preferred location. Currently SkyCell has two key partnerships with airfreight firms, Cargolux and Emirates SkyCargo. This enables SkyCell to currently serve over 150 destination airports.

The Cargolux media release found here shows why this partnership in particular is a huge win for SkyCell.

Cargolux is the world’s first GDP-certified airline, as well as the world’s first ‘Lean & Green’ carrier and operates from one of Europe’s most modern pharma and healthcare shipment centers, operated by its partner LuxairCargo at Luxembourg’s Findel Airport. Its expert staff is highly trained and motivated with a thorough knowledge and experience in their field. Its fleet of modern 747 freighters ensures the safe, fast and efficient transport of high-value, temperature-sensitive shipments across a global network. Adding SkyCell’s patented containers to its portfolio gives Cargolux an additional effective tool that benefits its customers’ specialized requirements.

Partnering with Europe’s leading cargo firm that has experience with pharma shipping is a huge step for SkyCell and demonstrates absolute faith in the product and service. The Emirates SkyCargo business is also key to making the product available for a wide-range of potential customers, as they are the second largest cargo airline worldwide by freight-tonne kilometres flown. In total, over 30 airlines currently fly SkyCell containers, according to the FAQ.

We know the Switzerland is a major hub for the European pharmaceutical industry, Basil alone has HQs for Novartis, Hoffmann-La Roche, Basilea Pharmaceutica, Straumann and Actelion. Securing contracts with these key firms, or their product distributors in the industry is essential to growing the business. From the Smartcontainers whitepaper, we know they already have Novartis as a client, along with some big names such as Roche, Takeda, Kedrion, Grifols and Alagan. We’ve already stated Modum are based in the same office as them, nearby is also Zug, home to Crypto Valley which has KPMG as a strategic partner.

For its palletised division, there is significant competition in the market. However, in just a 5 short years SkyCell have grown to #4 in this market, and their product is:

tested as technologically superior to Envirotainer (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings.

Envirotainer is currently the market leader, but as we can see there is significant scope for SkyCell to compete. With the injection of funds the initial token offering will raise, it could be the catalyst needed to increase market share.

Future Products – SkyCell One

skycell one crt

In the future, SkyCell is looking to bring a business-to-consumer solution to market, that was developed and tested with one of the top 20 pharma companies in the world. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet aside from styrofoam containers that are disposed of after one use. The SkyCell ONE can also be co-branded by a partner, such as a pharmacy chain that could rent it out for home delivery, business trips or even holidays.

The product is temperature stable for up to 72 hours, can be recharged passively in a fridge, or temp-controlled warehouse or truck. Currently it’s best in class for size and weight, but that’s probably down to there being no competition! Trials have been undergoing since June 2017 with an orphan drug product, and go live is expected in Q2 2018.

Initial Token Offering – Two Tokens?
$SMARC

In total, the Smart Containers Group AG. (holding company for FoodGuardians and SkyCell) is seeking to raise 40 million USD. This would be across two coins.

36 million USD would be raised through the issuance of the SMARC token, and the funds used to scale the SkyCell & FG business.  This is a profit-sharing token (much in the vein of the $MOD token), with 20% of future dividends and any exit profits from subdivisions paid out in ETH proportionally to tokens in circulation.

Total Supply – 150 million SMARC
Tokens Available in ICO: 120 million SMARC
Hard Cap – 36 million USD.
Token Price – 0.432 USD per SMARC
Presale – March on invitation, 25% discount.
Public Sale – End of March, staggered discount to first come first served. 1/3 – 15%, 2/3 – 10%, 3/3 – 5%.

Use of funding split as below:

smartcontainers

 

$LOGI

While operating in the shipping industry, the Smart Containers Group have identified several opportunities to improve efficiency by creating a fully integrated logistics ecosystems, based on the blockchain. The idea is various documents, such as invoices, bills of lading for containers, customs documentation, licences, datasheets could be stored on the blockchain for all parties to use without the need for a human coordinator to tackle email chains and manually generate documents.

logi token

This would be enabled with a mix of technologies to meet requirements. Some documents would need to be public and would be available on a blockchain such as Ethereum. Other more sensitive items would have to be on a permissive blockchain such as Hyperledger’s Fabric technology. When shipping a SkyCell container, the Smart Containers Group has identified atleast 12 documents used between parties, leading to 200 total communications and document actions, much of which manually processed by a coordinator. This on the blockchain can heavily reduce overheads and thus increase profit for those using the ecosystem.

We have seen several recent ICOs looking to build on the same inefficiencies in this market such as CargoX (focusing mostly on Bills of Lading) and SophiaTX (SAP-blockchain hybrid solution). Clearly if someone can master this area, which several SAP based projects have failed to do effectively there would be widespread uptake. We also know IBM is operating in the same field with Maersk with Hyperledger Fabric, so time will tell if they can compete with this existing competition.

The LOGI coin is used to fuel the payment of smart contract transactions and its initial offering breaks down as such:
Total Supply – 100 million LOGI
Tokens Available in ICO: 20 million LOGI
Hard Cap – 4 million USD.
Token Price – 0.285 USD per SMARC
Presale – March on invitation, 25% discount.
Public Sale – End of March, staggered discount to first come first served. 1/3 – 15%, 2/3 – 10%, 3/3 – 5%.

Use of funding split below:

logi coin

The Smart Containers ICO will be aided by Lykke, who also served as partners for the Modum.io ICO back in September. I would highly recommend reading the ICO FAQ linked here, as it answers some great industry specific questions traditional ICO contributors may not consider.

The SmartContainers overview paper can be found in PDF format here, and the full format whitepaper here. The Telegram chat group is linked here and you can follow them on Twitter @SMARC_ICO. In the past month the team has also unveiled their website at https://smartcontainers.ch/. The BitcoinTalk announcement thread is located here.

The Presale is slated to being mid-March, with the public offering beginning at the end of March.

Any thoughts? Follow me on twitter!

If you liked this, you may like this article: Modum – Real blockchain utility, in a sea of vaporware. Part 1 – From the whitepaper to mass production.