IoT technology is certainly becoming far more popular, so the fact that companies are seeking to include blockchain technology alongside it should perhaps not come as much of a surprise. However, Smart Containers is certainly looking at offering something completely different from the rest as they are focusing entirely on a certain aspect of the logistics industry, and it is something that does have real potential.
What is Smart Containers?
This is a logistics and blockchain company with a focus on helping companies that use containers as part of their business. They state that they are seeking to incorporate a series of Internet of Things sensors with the containers to ultimately provide companies with container solutions that have a perfectly controlled temperature depending on the items that they are carrying.
This can undoubtedly be useful in a number of situations, and it is their claim that their solution will mean that no items will be damaged due to the incorrect temperature, which is important when the likes of food or even pharmaceuticals are being transported. After all, they need to be kept at the appropriate temperature to avoid being damaged.
The Technical Aspect.
In order to achieve all of this, the company plans on making it easier for companies to both monitor the movement of the container as well as keeping close eye on whether or not it is on track. This is going to be a clear advantage from a logistical point of view for companies, and it is made entirely possible thanks to the blockchain.
Of course, the blockchain is capable of offering a decentralized approach while helping to centralize various aspects of the logistics industry. That is because all of the information that is related to the container and its movements will be stored on the blockchain rather than pieces of paper with the end user being in a position to look at that information whenever they want.
Furthermore, there is also the possibility of completing the billing aspect via the blockchain as well since it can be placed on the blockchain and the bill itself can be paid using cryptocurrency on the platform. Speaking of the platform, it is built on Ethereum so it comes with the safety and scalability aspects without additional strain being put on the platform.
In addition, it will also be possible to integrate with third-parties that are perhaps assisting the core business with the logistical side of things. This will allow all parties to track what is happening with absolute ease at all times.
Finally, they are also creating a special piece of technology that will monitor and regulate the temperature of the container with it all being controlled via the blockchain. The aim is to protect the different goods from heat so they are not damaged in transit with it, therefore, eliminating additional costs that occur due to this very issue.
The Advantages of Smart Containers
The advantages associated with the project as a technology are clear for all to see. Not only will it make it easier to track the shipment at any point, but there is the additional security of all of the information being placed on the blockchain. In addition, automatic billing via cryptocurrency is also another rather impressive development, and you can see why it would work well considering there’s no need to worry about exchange rates between currencies when everything is handled in this manner.
The Financial Aspect and the Smart Containers ICO
Here is something rather important to point out for the financial aspect. This company is not going to release just one single coin but rather they plan on releasing two and both are to be made available during the ICO in their own right.
For the ICO, the company is looking at potentially raising as much as $40 million with this being spread across both tokens. The first token, known as SMARC has a total supply of 150 million tokens with 120 million of them being made available during the ICO. This token comes with a hard cap of $36 million, and the price of the token has been set at $0.432 per SMARC.
This token is seen as a profit sharing token, while the second version, known as LOGI is going to act as the actual fuel for the transactions that take place on the blockchain. 100 million of them will be created, and 20 million will be available during the ICO at a price of $0.285 per token. They aim to raise the remaining $4 million for the ICO from this coin with the aim being that the majority are kept in circulation to make sure that the platform can function.
Overall Conclusion About Smart Containers and the ICO
This new project is a perfect example of a company seeking to use the blockchain technology that now exists in new and innovative ways. They are certainly looking at specializing in a very distinct area but that is a good thing because their new technology that allows for the control of the temperature in the container is certainly going to make a difference when transporting a variety of goods.
The fact that they are producing two different coins is also perfectly understandable when you look at the roles that the two coins are going to play. Also, using the profit sharing SMARC token as the predominant coin for the ICO also makes sense since LOGI is going to be required to keep the entire platform running.
So, is this worth investing in the ICO? The answer has to be a rather strong yes simply because they are looking at simplifying the way in which containers can be tracked as well as reducing the chances of things being damaged on their route. It will be easy to see why logistics companies could turn to this solution due to the various advantages that it brings to them. From that point of view, it will be worth investing as you can see how the value of the coins will increase quite considerably as more companies take on the technology.
Post originally on steemit: https://steemit.com/crypto/@dan90/smart-containers-ico-review-storage-on-the-blockchain
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