$205.19 0.76%
ETH · 64w

Depot: Coordinating global trade with Ethereum tokens through decentralized networks.

Depot Open-Sourced Logistics

This past weekend, I spent 24hrs with my favorite blockchain developers competing in St. Louis at the Distributed: Trade 2017 Hackathon. The goal: to build the future of finance, supply chain, and trade networks using blockchain technology. By the end of the hackathon, we had built Depot. This post will dive into how we approached the problems facing supply chain and logistics and how we solved them.

Let’s start with the problem. Supply chain and logistics is going to be a $15.5 trillion market characterized by manual entry. Our goods get from point A to point B through spreadsheets and emails. Second, the vast majority of companies don’t have full visibility across the supply chain. This means that once the goods are in transit, companies don’t know for sure where the goods are. And, finally, because goods are shipped manually with low visibility, the system is very rigid. This prevents the system from handling any sort of disruptions. This has lead to $350 Billion in economic loss over a year’s time period.

Depot solves these problems by coordinating global trade with tokens through decentralized networks. We built a supply chain and logistics protocol that could connect every company across the globe. This required creating a protocol capable of vertically and horizontally integrating customers and competitors in a collaborative way. But, how?

We decided to find the common thread across all of the supply chain: space. Depot quantifies and qualifies all of the available space from warehouses and semis, to shipping containers and airplanes through time and space and put it on a public blockchain marketplace.

To do so, we used a non-ICO ethereum ERC20 token and agreement protocol that anyone in the world could access. Within the protocol, we have tokens that represent cubic space. This cubic space is put on to the blockchain marketplace as available for use by those entities who have it. In our syst...

Continue on
Recent news
ETH +0.76% · · 1h

Thomas Lee BTC & ETH Predictions

Find me on Steemit: Twitter: @blockchainchick Instagram: @hheidiann RealCryptoTips Thinking about purchasing a Ledger...
ETH +0.76% · · 3h

Banking with Cryptocurrency !

Just four years after the launch of Bitcoin, Vitalik Buterin, a 19-year old boy set out to change the entire internet, and today he is the mastermind behind a business worth an astonishing amount of…
ETH +0.76% · · 10h

Art World will Help Fuel Ethereum Price to $500 this Year

19 October 2018 – The art world will help drive up prices of cryptocurrency Ethereum, taking it to $500 by the end of the year, affirms an influential tech expert and business analyst. The comments fr...
ETH +0.76% · · 14h

A Blockchain & Cryptocurrency Survey For Everyone

There have been several surveys in 2018 examining attitudes and opinions toward blockchain technology and cryptocurrency, notably including surveys by major accounting firms like PwC and Deloitte…
ETH +0.76% · · 19h

The HODL That Never Ends

Are you one of the millions of people all over the world currently bag holding crypto? Perhaps you’ve been slowly accumulating, buying the dip when the opportunity knocks, so that when the bull flag…
ETH +0.76% · · 21h

Top Teams Leading the Cryptocurrency Space

When you consider an cryptocurrency for investment, one of the crucial elements to research is the team behind a project. Investor risks are not only those of getting into a fraudulent venture, but…