MuleChain: Decentralized P2P Logistics on the NEM Blockchain
MuleChain is a global decentralized P2P personal delivery and temporary warehouse service that will utilize the NEM blockchain technology, including all the features of its API, in logistics on a global scale.
Mulechain is creating a new gig-economy that is run by the NEM blockchain technology in the shipping, delivery, and warehouse service industries. Mulechain will be a catalyst that allows:
- Millions of entrepreneurs to work for themselves on a decentralised P2P logistics network
- Postal parcel delivery services to operate in places where they do not yet exist
- Human logistics networks to be deployed overnight to face natural or human disasters
- Public transport services to become job providers for the unemployed
MuleChain is developed as a centralized and decentralized platform that uses the NEM blockchain. Here are the NEM features MuleChain will be using:
- NEM’s Smart Asset System will be used to set up a MuleChain namespace and mosaic for the MCX token.
- Financial and mobile payments will be used to handle MuleChain transactions using NEM blockchain speed, low transaction fee, and reliability.
- MuleChain will be using NEM’s escrow services. The platform will setup trustless accounts that can hold, verify, and release funds to different parties based on multisignature contracts.
- MuleChain will be creating a byproduct, MulePay, for MCX purchase, sending to friends, and others, as NEM can easily create payment applications.
- Mules and Pack Station owners will have their services and performances rated for timeliness and efficiency, with the smart asset design and certificate issuance features, we will be able to reward those who have had exceptional performances with publicly viewable certificates awarded by the MuleChain platform.
MuleChain Routes – Roles
Mules are the shipping and delivery service providers. Mules can be:
- Non-professional occasional travelers looking to defray travel costs by carrying an extra package or two
- Local professionals conducting last mile e-commerce delivery to households
- Local drivers or miscellaneous deliveries including parcels, food, and mail
Requesters are individuals that need to move an item from point A to point B. Requesters can have an item sent from their own location to somewhere else, have an item delivered from somewhere else to themselves, or have an item from a distant location delivered to someone else.
Pack Stations – MuleChain will also give independent individuals an opportunity to use their unused living space as a Pack Station. Pack Stations serve as relay stations and warehouses for items en route to their destination. Pack Stations can set fees to compete with each other as well as offer complimentary services such as added security, refrigeration, etc.
Transactions and Insurance
- Transactions will be done using MCX token as payments and collateral
- Mules need to hold an equivalent or greater number of MCX tokens in escrow as collateral of equal value for the packages they carry
- Pack stations need to hold an appropriate number of MCX as collateral of equal value for all stored packages
How the NEM community will benefit from MuleChain:
- Transaction volume – As the adoption of the MuleChain network grows, the transaction volume will also increase.
- Increased visibility of the NEM blockchain – Display of NEM as the blockchain choice in MuleChain’s website.
- Enabling NEM users to spend their XEM – This initiative will enable XEM holders to use their XEM holdings to buy MCX at a discount for a specified period during the first registration stage.
- Increased usage of NEM and XEM – As MuleChain starts getting widespread adoption, it will increase awareness of the NEM blockchain, thereby encouraging the development of more use cases on NEM, with its plug-and-play smart asset blockchain platform.
- Establishing NEM as use case for logistics and P2P delivery industry – The launch of MuleChain will put NEM on the radar of key players in the global P2P and logistics industries that are thinking about incorporating blockchain technologies into their businesses.
- Real life case study – Provide a real-world product in the form of an application where anyone with a mobile phone can evaluate and take part in earning an income in the process.
- Partnerships – Partnerships we create with mobile application owners through our platform will further increase the visibility and distribution of NEM.
- Contribute to ecosystem development – MuleChain developers will share their experience by creating articles about the platform’s challenges, milestones, and success, which will help the community at large develop applications with real life use cases.
Reference: NEM.io Forum
ABOUT THE MULECHAIN
MuleChain is the world’s first blockchain powered platform that will enable developers to create a broad variety of new generation of apps which will provide nonprofessionals the opportunity to earn revenue by becoming actors in the logistics industries.
ABOUT THE NEM BLOCKCHAIN PLATFORM
NEM is an out-of-the-box enterprise-grade blockchain platform launched in March 2015. NEM has industry leading blockchain features which include multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.
ABOUT THE NEM.io FOUNDATION LTD
NEM.io Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.