Blockchain-based platforms connecting IoT devices and vehicles are going to begin to fundamentally disrupt the logistics space.
Blockchain is going to fundamentally disrupt several areas of life if not entire business verticals as it currently exists within the next five years. One of those areas is transportation. The other is logistics management. How those pieces will fit together, however, appears to be developing some interesting trends.
Drone and robotics manufacturers, sometimes with prototypes also funded via cryptocurrency crowdfunding, are launching control platforms.
Drones are increasingly being rolled out by large distributors from Amazon to Walmart. By 2020, the advance of unmanned logistics is already expected to eliminate 50% of labor costs in the industry.
However, remove the manpower and there is a problem. So far, there is no unifying communications protocol to begin to regulate and move this traffic. From drones to self-driving cars, there will have to be some kind of infrastructure for all this moving, unmanned traffic, to navigate from source to end consumer.
Now the drone makers are releasing the next piece of the puzzle.
SKYFchain is exactly that kind of effort, with a unique twist.
It is the first blockchain-based B2R (business-to-robots) operating platform that will link hardware manufacturers and service providers, logistics providers and their clients, leasing insurance and regulatory support.
The immediate mission of the company? To provide the financial industry (banks, insurance companies, leasing companies) and even individuals with a platform and the opportunity to operate their own robots – whether they are unmanned vehicles, airplanes or even manufacturing droids, without an intermediary. Further, such users will be able to evaluate the risks involved on the basis of the real-time data stored on the operating blockchain.
The main purpose of the SKYFchain OP is to integrate market participants onto a common platform with a unifying token and smart contract system. The SKYFT token, based on the ERC-20 utility token, will be used as an internal system token.
Investors in the ICO obtain the following benefits:
Access to the SKYF drone: Clients will be able to rent the services of the drone which is a new kind of drone vehicle. It is a hybrid, high-performing, gasoline-fuelled vehicle, capable of vertical take-offs and landing, with a useful load of up to 400 kg and a flying range of up to 350 km/220 miles
Benefit from the Community Development Fund: 20% of the revenue from the first 1,000 SKYF drones will be reserved to purchase existing SKYFT tokens from the market. This will then be used to reward partners and developers of the SKYFT blockchain.
Ongoing revenue from platform operations: Mission planning, verification and operations support will be run through the SKYFchain blockchain. This, in turn, will generate user fees that will remit to token holders.
The road to testing and market deployment is already planned and well underway. The company has manufactured operational drones in the unmanned vehicle space. This allows it to deploy its own blockchain as the operational protocol for the fleet. The drones are now being employed in several key Russian business sectors including agriculture, oil and gas, mining and logistics. Russian Post is one of the company’s key partners already. This is a multi-billion dollar market opportunity in its own right, and one with fewer regulations than future planned international expansions including the EU and US.
Test flights of the SKYF drone are already underway, and have been successfully concluded as this test video shows. Several big clients have also signed up for pilots.
The most prominent of these include Syngenta AG, a Swiss agribusiness firm in the seed and chemical vertical, Avgust Crop Protection, a chemicals producer and service provider and Pony Express, the number one multi-modal logistics operator and delivery company in Russia.
The second step of sales rollout will be in Asia with a franchise model in partnership with a local partner. U.S. market expansion is on the drawing board for the next 5-10 years.
The company believes it has a market entry strategy that is strategically poised to create a reliable customer base for several reasons.
The first is that by creating a community of users in a lucrative niche market, the company hopes to create a reliable platform and operations model that will begin to establish credibility for the industry. So far, the regulatory environment is difficult in most areas on top of this because of the hybrid nature of unmanned transportation and the relative newness of their use.
In the added wrinkle to industry vertical development, unmanned driving and flight technology itself is in its infancy. Technical problems during operation are one of the biggest operational headaches for developing companies in this space who wish to launch services. It is also a major issue for other kinds of service-provision companies associated with this kind of business – starting with insurers. If a manufacturing process is completely automated, those robots also have to talk to the unmanned delivery and transportation they deliver product to. That is a big gap. Not to mention a problem.
With a platform connecting all the robots involved in this process on one network and a reliable, gas-powered delivery drone, these issues will be able to be addressed for the first time. Deliveries can be tracked from source to end delivery. And risk assessments about delivery models can also be developed and monitored real time.
Here are the details of the upcoming SkyFchain token sale:
Token name: SKYFT
Token base: ERC-20 utility token
Token supply: 1,200,000,000 tokens (44% available for sale during ICO)
Token sale begins: March 1, 2018
Token sale target: USD $5 million (soft cap), USD $30 million (hard cap)
Token price: USD $0.065