EndChain is a new project based on Ethereum, which aims to disrupt the logistics industry through decentralization, open protocols, and utilities. They believe the best way to improve current systems is to eliminate almost everything except the scan of the package. According to them, “Technology can be molded to handle the rest of the necessary steps and to fit the needs of all users wanting to access the data.”
From the whitepaper:
“While some companies have attempted to create blockchain solutions for modern logistical problems, no complete solution exists today. Current options revolve around expensive RFID chips or an overt reliance on consumer input. EndChain focuses on the entire logistics chain: from manufacturer to businesses to customer to reseller. The goal of EndChain is to become the blockchain solution that the logistics industry desperately needs by allowing one blockchain that is easy to use for all verticals of the supply chain.”
EndChain wants to reduce the cost of logistics by providing a blockchain that’s responsible for all the data across the supply chain. Their uniform blockchain lets businesses easily adapt and communicate with one another. Their system will cover each sector of the supply chain, including the second-hand market.
The entire Endchain system is based on the use of their patent-pending QR/barcode design. Each item produced in the EndChain supply chain is paired with a unique id that can be automatically registered on the chain. This id is the foundation of Endchain and ensures that every physical item is linked to its digital counterpart.
All businesses which use the EndChain software will be able to identify themselves as producers, transportation, B2B or B2C stores. Employees simply need to scan the code. That simple scan will break down both the generic barcode and the individualized QR code. The software then automatically updates the chain with the new data that can be seen by all users.
There are 2 major benefits to their QR/barcode combo:
- It simplifies the scanning process. Instead of 2 or 3 separate barcodes, logistics workers will only have one easy to read code, filled with all the data.
- The code will update both the blockchain and the legacy systems at the same time. This allows EndChain to easily integrate with legacy systems that may not want to completely change their current methods just yet.
- Reinforce the Authenticity of product
- Secure transactions and fast settlements
- Visibility in the supply chain
- Route optimization
- More info on the product and cheaper costs
- Ownership history
ENCN token is required to purchase QR codes, make smart contracts, and access the data stream.
Token burning: EndChain’s self-regulating economy burns 2-4% of tokens per transaction. It works by destroying more coins if the current market value of the ENCN is low. If the value of ENCN rises, less supply is destroyed as fewer coins are required for each smart contract.
- 55% ICO
- 22% Future development
- 10% Team
- 5% Leadership
- 5% Advisors
- 3% Bounty and referrals.
Use of proceeds:
- 60% Development
- 25% Marketing/sales
- 5% Legal
- 5% Security and compliance
- 5% G & E
Team EndChain is a mixed group from all around the globe. 15 team members and 9 advisors are listed.
Aaron Perkowitz – CEO. Since October 2017 until now he’s been a Fund Manager at HNA Group, a global Fortune 500 company focused on aviation, tourism, logistics and financial services. Other than that, he lists 3 internships; Morgan Stanley, AngelVest, and RocketSpace.
Pierre Angot – CTO. Paris, France. A self proclaimed Artificial Intelligence and Blockchain maestro, co-founded Medway, a telephone medicine app with between 2-10 employees. 2 years Managing Director at WAGT Consulting. Currently a Data Consultant at Verteego.
Felix Engelhardt – Business Developer. Currently (8 years) an Analyst at Cimic GroupLimited, a world-leading infrastructure, mining, services and private partnerships group with over 1,000 employees.
Javince Chan – UI/UX Designer. Lots of experience specifically in UX design; Currently at Quadrant Studio, she’s also worked for Amazon (1 yr), AKQA (1 yr), and Symplicit.
It’s an impressive group of advisors, with specific skills they acquired from places like; Huawei, Cimic Group, Morgan Stanley, Audi, Uber, Activision and Blizzard.
Partners are highlighted below:
“EndChain provides a complete and cost-effective logistics package that benefits all parties of the supply chain. While most utility tokens focus on high end goods, EndChain focuses on the low to middle market, an area that has been ignored for too long. EndChain is able to enter this market due to the ease and low price of our system compared to other utility tokens which focus on expensive NFC chips or manual entry.”
The current blockchain solutions for the logistics industry won’t work for the majority of goods. They are too expensive to mass produce, therefore, they focus on luxury goods such as handbags, diamonds, and art while the vast majority of market purchases are ignored. EndChain is working on a solution by making a cost-effective product that can be applied to all goods.
- Ethereum Blockchain. -1
- There is already a lot of blockchain competition, and all their token values are at all time lows right now. Demand is not currently here. -2
- 3% of their tokens will go to bounty/referrels. These bounty hoes usually just dump their tokens as soon as they hit an exchange. -1
- 50% presale bonus. Same thing as above. They will dump at the first sign of dumpage. -1
- This will be really challenging to scale. -1.5
- Unsold tokens may or may not be burned. When we asked them in Telegram, their response was, “Once we got a concrete details, Soon we will be having an important announcement regarding that matter, stay tuned.” -0.5
- The team has produced a very profession ICO, a patent pending scan system, and lots of work on GitHub. Here’s their CEO giving a quick explanation on the work they have achieved so far. +2
- Their uniqe QR code incorporates a barcode within the QR code. This allows users to scan the only code found on the packaging. Businesses that still use a legacy system can scan the embedded barcode. +3
- 2-4% of the revenue generated from sales will be dedicated to burning EndChain tokens. +4
- They will give a percentage of ENCN tokens to tradition shipping companies for free, to recruit them to the blockchain. Once they see the benefit of EndChain, they will become valuable costumers. +2
- One of the largest benefits of this system is that it can be done offline. Information isn’t being downloaded, only uploaded, therefore it can remain in the system until its fully loaded, no need to wait to scan the next item. +3
The team is strong, the whitepaper is professional, and the roadmap is realistically detailed. The goal is to launch the full version in Q3 2020. If they raise enough money in this token sale, we like their chances more than most. 7/10
- Symbol: ENCN
- Platform: Ethereum
- Total Supply: 135,576,931
- For Sale: 74,567,312 (55% of total)
- Hard Cap: $15 million
- Soft Cap: $4 million
- Presale: December 1 – January 15 (50% bonus)
- Crowdsale: Feb 1 – April 30 (bonus ranging from 10-35%)
- Website: https://www.endchain.io
- Whitepaper: file:///C:/Users/tiang/AppData/Local/Packages/Microsoft.MicrosoftEdge_8wekyb3d8bbwe/TempState/Downloads/1543145606EndChain+English+Whitepaper+Final+Version+11252018%20(1).pdf
- Telegram: https://t.me/EndChainIO
Original source; https://hacked.com/ico-analysis-endchain/