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Monday, 16 July 2018

Shipit - NextGen Crowd Express Delivery Platform - Project Review


Shipit-ICO-Review, Blockchain, Cryptocurrency
Shipping has never been easier but this venture has made it simpler, transparent, economical and safer. It uses blockchain technology and smart contracts to allow the senders the travelers to get their respective benefits. 
Shipit facilitates the senders by delivering their shipment quickly and economically and serves the travelers by giving them an opportunity to earn more money. The aim of the ecosystem is to make the lives of people easier by giving them a much secure, transparent and economical option for shipping their products. Security is the top priority of the program and therefore it has implemented strict requirements for senders and travelers.

Atomizing the processes to make the network more detailed and efficient

If you don’t know how smart contracts work, then you won’t understand the efficiency of Shipit platform. Smart contracts are just like conventional contracts signed between two or more parties. The difference is that smart contracts are automatically executed upon meeting the set conditions. By atomizing the processes, the need for the intermediary is eliminated which also cuts the commission fee from the equation and makes the platform economical and efficient. The data and archive are stored on the blockchain. 

Builds new online trade chains

Shipit platform also makes it easier to send a product from one country to another by developing new online trade chains. In the conventional system, we call it mail forwarding where items are purchased from one country and shipped to another. It requires the intervention of intermediary services. Through these online trade chains, users can get their products instantly from anywhere in the world. 

It uses security deposits

Senders are highly concerned about the safe delivery of their products and the conventional system offers insured services to compensate for the loss or damage to the product. However, on Shipit platform, it uses security deposits to safeguard the senders. 

Why is Shipit better than the conventional shipment systems?

Economy happens to be the first factor to consider before analyzing the performance and efficiency of any system. Shipit ranks higher because it does not have to purchase costly machinery units and hire employees to run the system. The processes are automated because of the smart contracts. This platform facilitates the users to directly communicate with each other so that they could track the status of the shipment. There are very fewer formalities of filling the forms, signing a contract or doing other paperwork in Shipit system which is another reason for economy and efficiency. 

There are no taxes on small parcels

Shipit-ICO-Review, Blockchain, Cryptocurrency
This seems strange but it is true. Small shipments won’t be charged taxes because traveler can easily carry his luggage and pass through the customs officials. There are fewer risks of theft or damage because of the review and rating system. Every participant becomes cautious about his repute on the platform and he prefers to play a fair game. There is a safety feature in which senders can demand the travelers to deposit security fee which will work as a cover for their products and claim the damage if it happens. 

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Item Reviewed: Shipit - NextGen Crowd Express Delivery Platform - Project Review Description: A Blockchain Technology which facilitate the senders by delivering their shipment quickly and economically and serves the travelers by giving them an opportunity to earn more money. Rating: 5 Reviewed By: Raihan Shakeel
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