Top 5 Cryptocurrency Projects in Supply chain

August 28, 2018 by Hitesh Malviya

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VeChain (VET):

VeChain is leveraging the blockchain technology to build a decentralised, distributed, and trust-free ecosystem that enables the transparent flow of information, efficate collaboration, and high-speed value transfer.

VeChain is offering Blockchain-as-a-Service to create a transparent information web allowing customers to make use of better services and accurate information. The VeChain network is a broad-spectrum network that is working to develop solutions for industries such as luxury good, liquor, auto, retail, logistics, insurance, and agriculture.

How does it work?

The veChain network is going to incorporate the blockchain technology into the traditional supply chain industry and thus enhance its functioning. For instance, in the logistics department, VeChain will maintain a blockchain updated with information relating to the goods pickup and ownership transfer thereby ensuring transparency.

The IoT is a crucial aspect of VeChain. The network is focusing on developing a coordination between IoT development and blockchain technology by developing encrypted chips tag technology and identifying IoT sensor and data security.

Partnerships and Roadmap

VeChain has one of the most impressive partnership list in the crypto industry. The network has partnered with DNV GL for certification, PWC for audit and advisory, Kuehne & Nagel for supply chain and logistics, the Chinese Tobacco Industry, and BitOcean and Fanghuwang for financial services.

VeChain was launched in 2016 with functional smart contracts. After 2 months, the network launched VeChain V2.0 with improved smart contracts. In 2018 Q2, VeChain Thor Blockchain was launched with VeChain Thor Wallet, governance structure, and an economic support model. By 2018 Q4, the team plans to launch a distributed business ecosystem form on the VeChain Thor Blockchain with cross-chain and side-chain solutions.

Token Value Information

Total Supply: 86,712,634,466 VET
Circulating Supply: 55,454,734,800 VET
Market Cap: $814,427,303 USD
ICO Price: $0.0157 USD
Current Price: $0.0146 USD

More Information: https://coinmarketcap.com/currencies/vechain/

WaBi (WABI):

Launched in December 2017, WaBi is a crypto-token for safe consumer products which aims at providing solutions for the global circulation of fake goods. The network aims at doing so by linking the physical and digital assets through RFID labels equipped with anti-copy functionality.

The WaBi team is working with the Walimai’s anti-counterfiet technology and will be supported by the sale of their technology-related products. The WaBi team has successfully developed an algorithm to link a physical asset with its corresponding digital representation enabling a protected and transparent consumer experience.

How does it work?

The Walimai label is applied to every single product at its ‘origin point’. This label links the physical asset to its digital representation and this representation has an encrypted unique ID, geographical information, and a dynamic code.

This information allows the consumer to scan and therefore track the item in their Walimai app. The data from this scan is sent to the blockchain to be verified and the verification is displayed to the consumer.

Partnerships and Roadmap

The WaBi platform was launched in 2017. In 2018 Q1, the team mainly focused on business development branding its portfolio by the end of June. In 2018 Q3 and Q4, the team will focus on integrating WaBi into other loyalty solutions along with the launch of p2p sales platform.

Token Value Information

Total Supply: 99,218,023 WABI
Circulating Supply: 45,248,033 WABI
Market Cap: $7,381,973 USD

ICO Price: $1.43 USD
Current Price: $0.163 USD

More Information: https://coinmarketcap.com/currencies/wabi/

Ambrosus (AMB):

Ambrosus is another supply-chain crypto project which is working towards combining high-technology sensors with smart contracts and the blockchain technology to build a globally-verifiable system that can ensure the maximal quality of consumer products.

The Ambrosus team is building a network which enables the tracking of items ensuring their quality, origin, compliance etc. Though the network’s vision to build a broad-spectrum blockchain, it focuses primarily on two major life-essential products—food and medicine.

How does it work?

The Ambrosus network is built on two pillars. Multiple hardware sensors are being developed by the team with a plug-and-play feature that will make the items compatible with the Ambrosus blockchain. The second pillar is a blockchain protocol which will offer a transparent and decentralized service to all consumers.

Partnerships and Roadmap

The network has some significant support from institutions such as Validity Labs, Swiss Food Research, Trek Therapeutics, RIOT, Futurism, etc.

Ambrosus launched a dedicated Digital Commodity Quality Research Lab for hardware development in the beginning of 2018. Its large-scale alpha version was launched in February 2018 followed by the launch of the public beta version in March. In June 2018, the team released the first-generation sensor system followed by acquiring accreditation of lab and validation of the sensing systems. In 2018 Q3, the team will launch its corporate and enterprise software solutions followed by the launch of farmer outreach initiatives by 2018 Q4. 2019 will see the release of second-generation sensors with the release of the first large-scale, fully-automated supply chain solution in Spring 2020.

Token Value Information

Total Supply: 361,477,438 AMB
Circulating Supply: 144,590,975 AMB
Market Cap: $19,268,603 USD
ICO Price: $0.206 USD
Current Price: $0.133 USD

More Information: https://coinmarketcap.com/currencies/amber/

Modum (MOD):

Modum is working to integrate the blockchain technology with the supply chain industry in the realm of the pharmaceuticals. The development of the project was inspired by the regulations passed by the EU making it necessary to prove that none of the shipped medicinal products were exposed to any harmful environment.

Modum was developed to reduce the transportation costs that increased as a result of these regulations by incorporating a temperature sensor into the medical shipments. The sensors monitor their temperature and the data collected is stored on a transparent Ethereum network.

How does it work?

The process begins with a shipment-specific smart contract fixing the temperature logger ID, shipment ID, and the alarm criteria for a particular shipment. On being received, this smart contract allows the receiver to verify if the regulations were met. The temperature sensors monitor the temperature throughout the shipment and the results of each evaluation are stored on the blockchain.

Partnerships and Roadmap

The Modum team has collaborated with leaders from academics and pharmaceutical industry. Their major partnership is with the University of Zurich, University of St. Gallen, Swiss Post, SAP, and Variosystems.

The project ensured the go-to-market of their first product line in 2018 Q1 with at least 2 environmental sensors being integrated into their hardware platform. The team also attempted to get back-end support from a blockchain other than Ethereum. By 2019 Q1, the team aims at delivering second-gen sensors with real-time interaction.

Token Value Information

Maximum Supply: 27,266,200 MOD
Total Supply: 27,266,200 MOD
Circulating Supply: 21,266,200 MOD
Market Cap: $20,933,907 USD
ICO Price: $0.62 USD
Current Price: $0.98 USD

More Information: https://coinmarketcap.com/currencies/modum/

TE-FOOD (TFD):

TE-FOOD is a publicly-accessible, farm-to-table food traceability system. The project is working to create a blockchain-powered network that can provide all-inclusive solutions for everyone involved in the food supply chain. TE-FOOD is a fresh food ecosystem which integrates supply chain companies, governments, and consumers to improve food safety, decrease the cost of food supply chain, and eliminate food frauds.

How does it work?

The TE-FOOD team plans to replace the currently active decentralized transaction ledger with a blockchain protocol that can extend the functionality of the system. The network will employ blockchain to ensure that whatever data is provided by the supply chain participants is verified and not mutated under any circumstances. It introduces food safety sensor tools that will help in mitigating the supply chain debates by keeping a track of the environmental conditions of food and livestock that is transported.

The TE-FOOD network brings a marketplace which can be used to improve engagement through b2b livestock and fresh food trading.

Partnerships and Roadmap

The TE-FOOD ecosystem is working in partnership with GS1, a non-profit organization that develops and maintains global business communication standards, UNISTO, a Switzerland-based manufacturer of security seals, and Zalo, a free messaging and calling mobile app which can read the TE-FOOD QR Codes to verify the data.

The development of TE-FOOD began in 2015 and the network was launched in2016 Q4. In 2018 Q1, after successful training and tracking of certain food items, the TE-FOOD International was found. In the second quarter of 2018, the team launched its cattle and fruits and vegetable tracking with an increased market presence worldwide. In 2018 Q3, the team plans to launch new developments extending the tracking system to seafood and launch the marketplace by 2018 Q4. The food safety sensor tools are set to be introduced in 2019 with further increased market presence by the end of Q2.