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IMMLA’s mission is to provide multimodal deliveries service with decentralized control system of transportation, document flow and payments.
Its authors say, that new technology allows dramatically reduce trust deficit, information barriers and legal costs. This is to be achieved due to interaction of cargo owner and the transporter through IMMLA working on the base of Etherium blockchain and smart contracts. It will allow monitoring of cargo damage, time of delivery, cargo location, selection of suitable delivery route and other cool parameters.
IMMLA is founded by consortium of logistics and IT leaders. It includes such names as Formag Fowarding (subsidiary of Global Transport Investment), experts of a leading logistics services giant Hellman Worldwide Logistics and SBSolutions. The software solution will be based on the logistics industry leading ERP solution Logismart.
1-2% market share in 5 years
IMMLA is planning to launch real third party transportations using smart-contracts based on Ethereum blockchain as early as in the first quarter of 2018. According to the White Paper, in 2019-2020 IMMLA service will be offered on the CIS market. In 2021, it is to enter the markets of Western Europe and China. Thus, 5 years after the launch of the IMMLA product is estimated to occupy 1-2% of the world’s freight forwarding market.
“International freight forwarding market is annually estimated at approximately 200 million teu’s (twenty-foot equivalent unit). Thus, the goal of 1-2% market share 5 years after the full-scale launch, constitutes roughly 3 million teu’s (to date, it is an approximate volume provided by the DHL company). Our estimations show that high quality service for around 8000 multimodal international transportations daily, including all the possible deviations from an ideal process, will be the minimum performance level that we will be able to provide over this time horizon”.
-Mikhail Astakhov, the founder of the IMMLA consortium
Based on working product
Logismart, the basis of IMMLA service, functions in several dozen multinational logistic corporations. IMMLA’s team affirms that the product serves and supports tens of thousands transported TEU-s in terms of both legal issues and document workflow. However, IMMLA claims to be new service inheriting only logic from its predecessor.
“Initially a client puts into the service the information about the necessity to deliver a specific cargo from one place to another at a specific time. Further, the platform through the use of statistical and forecast data provides the client with a price point for such service and an approximate delivery plan. If the client is satisfied with the basic conditions of the offer, then he places an order for a proposal formation”.
The system, in turn, allocates the basic scheme of transportation among the registered participants, whose advertised and/or statistical profile allows them to take part in such transportation process. It also takes into account alternative delivery plans where it is possible to improve the price and/or time parameters.
IMMLA plans to raise during the first round ICO around $500,000 (http://immla.io/pre-ico). The first round begins at 00.00 UTC+3, the 15th July 2017 and finishes on the 30th July 2017. Full-fledged ICO will be held on September 2017 and can bring $12,1 million into the project.
The base currency of IMMLA’s Pre-ICO is ETH. During the pre-ICO campaign IML token price is 0,000192 ЕТН, during the ICO this price will grow up to 0,000275 ЕТН. So early birds bonus is 43%. Pre-ICO is successful if more than 577 ЕТН (~$150К) collected, otherwise all funds are transferred to pre-lCO participants.
Images courtesy of Shutterstock, IMMLA