TL;DR
We’ve been discussing how blockchain technology can disrupt the supply chain industry for years. Morpheus Network & Supply Chain Technology is the focus of today’s discussion for a good reason. In light of where the space thought it would be by now. VeChain still hasn’t made much headway in delivering distributed ledger technology to the troubled supply chain industry. Covered in our Does Vechain have a Future Article. It’s allowed other projects like Morpheus to step in and start picking up the slack. That’s because it’ll take a lot more than just a few RFID chips to make a lasting impact on the Supply Chain Industry. Surprisingly more than 60% of companies worldwide still have no technology deployed to monitor their supply chain. Businesses that deploy updated technology see an average of more than 15% in cost reductions.
For companies that do see this benefit only a very small percentage have full visibility of their supply chain. With a total market value estimated at over $16 billion dollars and an almost 50% increase in business expected before 2027, supply chains will need to evolve quickly to meet the increasing demands of consumers. Morpheus wants to play a crucial role in this process as the logistical middleware, giving legacy infrastructures more cost-efficient methods of getting goods to buyers.
Morpheus Network makes it easy for businesses to connect with their platform and upgrade internal systems to ensure the business is prepared to handle any industry-growing pains. Through advancements in Distributed Ledger Technology, Internet of Things, Optical Character Recognition, Machine Learning, Data Analytics, and Artificial Intelligence. Morpheus already has clients raving about its performance.
What is Morpheus Network?
Morpheus Network is a protocol that uses blockchain technology to create verifiable information that supply chain companies can use to monitor their infrastructures. Morpheus exists in both public and private networks to allow flexibility for clients who still require certain levels of privacy.
Information stored on Morpheus is encrypted and held outside of the main chain. Combined with on-chain data that can be quickly accessed for auditing purposes. Client security and compliance with local regulations are a big focus for Morpheus. With so much happening in the industry, AI is expected to play one of the most important roles in updating this outdated supply chain infrastructure. Morpheus focusing on the use of AI in its data systems since the project’s creation. Companies like DHL, FedEx, and UPS can easily tap into the Morpheus Network and benefit from the addition of AI in their logistical operations.
With 90% of global merchandise being transported by sea, you can understand why optimizing how goods get from one place to another can be so impactful. Expected to reach a $31 Billion market by 2026, making changes in the industry can’t come quickly enough. Morpheus lets clients automate many processes that would otherwise require significant time. This reduces the costs for businesses by removing many of the inefficiencies seen in the supply chain. More than merely talking the talk, Morpheus is walking the walk.
With…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
