If you haven’t noticed, there’s a lot of trucks on the highways these days. That’s because, during 2020, everyone was buying everything online. That’s put a lot of stress on the logistics systems that make sure your 12-piece knitting set shows up in time for your quilting circle party. So fun. In this video, we’re going to explore two of the most promising blockchain solutions for the modern supply chain dilemma.
We’ll look at how they aim to fix those problems and I’m going to explain why there will be plenty of room in the market for both projects. And your quilts. Put on your trucker hat. The ship is about to get real. Let’s get it!
Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs. My name is Ben. Every day on this channel, I show you how to make money in crypto. If you like money and crypto, then make sure to hit that subscribe button. In this context, we’re looking at logistics blockchain projects and how they’re going to revolutionize on-demand shipping.
Today, we’re going to be taking a look at VeChain and Dock, our favorite picks for the future of supply chains and logistic technologies. You may be wondering why blockchains are needed for keeping records of shipping receipts and other basic business details, but when you actually take a look at how the world works, our global, national, and local supply chains are a total mess.
This might not be obvious because everything seems to be running fine and packages tend to show up on time unless they’re nabbed by porch pirates. But we’ve seen how fragile international commerce can be and how one small disruption in a supply chain can have huge consequences.
Blockchain technology will make supply chains much more organized and resilient by collecting and aggregating information that can be used to quickly identify and resolve potential disruptions. This allows for a level of coordination that was never really possible before in global trade and will eliminate much of the human error that we see across many different industries. Detailed and immutable records of what takes place on a supply chain can also drastically reduce the number of lost, stolen, and damaged goods, potentially saving businesses and their customers billions of dollars.
The leader in this space is, without a doubt, a project called VeChain, which we’ve of course discussed on this show many times. VeChain is a Chinese project that was founded in 2015 and has been steadily building its ecosystem and growing its partners through multiple bull and bear cycles.
It has a strong team with an impressive background including its founder and CEO, Sunny Lu, the former CIO of Louis Vuitton China.
In fact, Louis Vuitton is now one of VeChain’s official partners, along with BMW and several other well-known luxury and consumer brands. However, its largest and most powerful partner is none other than the Chinese government. That’s right. Despite the Chinese government’s hostility towards most crypto assets, it seems to have given VeChain the green light to operate within its borders.
Not only that, but the government in China is openly praising the project and has recently hosted a meetup with the VeChain Foundation to discuss the digital infrastructure that the country will be using for the future of supply chains and financial markets. Over the past year, VeChain’s technology has also been rapidly deployed in the medical field for a variety of different use cases.
In a recent partnership with Renji Hospital in Shanghai, VeChain has launched an application called MyBaby, which allows expecting parents to monitor their developing baby on the blockchain after having an in vitro fertilization procedure. VeChain has delivered a wide range of different initiatives at the Renji Hospital, and it wasn’t just my baby. Seriously though, last year, VeChain launched the world’s first blockchain-based Intelligent Tumor Treatment Center at the same hospital, and additional efforts are expected to be coming soon.
There’s no doubt about it, VeChain’s partnerships, especially those in China, have set it up to be a tried and true long hauler in the supply chain space. But as we’ve seen in every crypto asset class, there’s room for a variety of different projects that serve different niches and communities.
This is also an example of decentralization, one of the core values in the crypto culture. If you have one project or asset that maintains a monopoly in a particular market, that sounds an awful lot like centralization, a simple fact the maxis love to ignore. Let’s be real.
There’s more than one smart contract play. There’s more than one NFT play, more than one DeFi play, and, yes, there is more than one supply chain play, too.
This brings us to a shiny new 18 wheeler Dock. Dock launched in 2017, so it has not been around as long as VeChain, but this is still a seasoned project that has lived through the crypto winter and made significant progress on its ambitious roadmap. Dock has a strong team as well with veterans from both the supply chain and crypto industries on board.
We’re so on board with Dock that we’ve hitched our trailer to their rig and we partnered with them recently. The fact that Dock is a bit earlier in its development is actually a good thing for investors who are looking to get in on the ground floor of this exciting technology.
The market cap for this project is extremely low considering its potential, especially with the release of new applications, wallets, Ledger support, and staking abilities that will be coming in the next year. Dock has also been awarded a grant from the Web3 Foundation and will soon be harnessing the scaling power of Polkadot’s parachains as it grows as the network. Dock has quickly become one of the most anticipated projects coming to Polkadot’s ecosystem.
One of the most exciting things about Dock is the fact that governance of this platform will be decentralized, taking the middlemen out of supply chain infrastructure once and for all. Decentralized governance means that there is no single point of failure and no central authority making decisions.
The Dock team has recently announced that the proof-of-stake test net is now live, bringing the network one step closer to decentralization. The proof-of-stake mainnet is expected to launch sometime this summer. Now, when researching Dock, you’ll notice that it’s very similar to VeChain but more focused on Western markets.
For the most part, crypto assets are neutral and international, which is one of the things that makes this technology so powerful. But companies and supply chain still exists in the physical world, where they are regulated by competing governments that have different ideas about how business should be done. We have seen that governments can be hesitant to welcome technology and applications that were developed by rival nations. In China, they don’t have Twitter. They have a similar government-approved app called WeChat.
In the United States, our government has recently considered a ban on apps like WeChat and TikTok because they were developed in China. Luckily, governments are slowly learning that they can’t just ban their citizens from using certain blockchains, so they will likely just do their best to promote and support products that are built at home.
This is actually very bullish for both Dock and VeChain. We’ve seen a similar scenario play out with Alibaba and Amazon, two of the most successful companies in the world that provide essentially the same service but serve different markets. Would it have been better to invest in Alibaba or Amazon 20 years ago?
Or would it have been better to invest in both? Now, I’m not a financial advisor.
Remember? You guys know that. One thing’s for sure though.
This technology can solve many of the existing problems with our broken supply chains. And these two projects are expected to be leading the pack. Let me know what you think of VeChain and Dock in the comments below. And if you haven’t already, smash the like and subscribe buttons. It really helps us out.
That’s all I got. Be blessed. BitBoy out.