The Smart Containers ecosystem will be known as LOGI CHAIN. The ecosystem is solely responsible for effective logistics process, a collaboration platform for all those involved in the logistics process to interact. In order to effectively revolutionize the shipping process through the LOGI CHAIN ecosystem, each logistics unit will be equipped with a virtual chip that will contain all the information such as, information of origin, material safety sheet, customs declaration, invoices, product data sheet, storage conditions, transport conditions etc. needed for the shipment of the product. Because this ecosystem will be built based on blockchain technology, the information contained in this chip will be accessible to the various parties concerned in the logistics process, such as customs officers, freight forwarders, contractors, shippers, buyers, and warehouse workers.
Some of the information contained in the virtual chip will be open and can be viewed by anyone on a public blockchain like the Ethereum Blockchain. The more sensitive and confidential information will only be accessible to those who have the authorization right and will only be accessed on a permissioned blockchain like Hyperledger Fabric blockchain and Cords blockchain. Think of it as a network environment with different authorization levels and access.
This chip will be available to everyone for a small cost, which will only be paid for using the LOGI token, an ERC standard utility token based on the Ethereum Blockchain. If the LOGI CHAIN were to be a rocket, the LOHI token will be the gas needed to propel it. Every transaction in the LOGI CHAIN ecosystem will be paid for using the LOGI token. A total supply of 100m LOGI will be created of which 20m LOGI will be made available during the ICO process. An equivalent of USD 4m will be used to fund the first 2 years of the development of the LOGI CHAIN ecosystem.
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