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Low barrier to entry for companies willing to use the platform as it is designed to directly connect to the existing “legacy” system.
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A vast ecosystem of partners and integrations.
Market Data
Price BTC
0.000093
Price USD
1.940965
ATH BTC
0.00011
ATH USD
5.297219
Down % ATH BTC
-14.96
Down % ATH USD
-63.24
Market Cap BTC
4,393
Market Cap USD
91,574,741
Volume 24h BTC
0.041
Volume 24h USD
846
Circulating Supply
47,180,014
Total Supply
47,897,218
Launch Date
N/A
Website
Project Highlights
- A strong, competent, and diverse team with a track record of success.
- Many strategic partners like SWIFT and integrations with existing blockchain solutions like Chainlink or transportation companies such as FedEx.
- The majority of tokens were distributed to the public.
- Smart-contract utilization for facilitating global trade.
S.W.O.T Analysis
Strength
Weaknesses
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Lacking technology specifications and other mechanisms by which the platform operates.
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Not much information platform usage and clients
Opportunities
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Efficiency improvement in the supply chain industry might bring adoption to projects
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Escrow payments and smart contract utilization can cause more companies to switch to using the platform.
Threats
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Heavy competition might push the project out of the market as many supply chain management blockchain solutions are out there.
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The regulatory risk associated with the platform’s usage as it deals with multiple jurisdictions, banks, customs, and so on.
Technical Analysis
What is Morpheus Network
Morpheus Network is a supply chain solution for managing and tracking product delivery, shipping, and other logistics on the blockchain. The problem with the current supply chain management is that it involves multiple actors located globally, which can create a lot of unreliable data. This is due to many inconsistencies in reporting standards and different policies for different companies and jurisdictions they operate in.
Utilizing blockchain technology as a middleware platform in these operations guarantees immutability and standardization of the tracking and reporting process, solving inefficiencies in the supply chain management. Multinational companies lose tons of money every year due to a lack of transparency, connectivity, and agility in the global supply chain. As these companies deal with customs, paperwork is needed, which has to be signed, stamped, and approved so one single error can cause delays that can spoil the shipment and result in a considerable loss.
Morpheus Network combines blockchain smart contracts with emerging technologies such as IoT, AI, and RFID chips to secure automated management of the supply chain processes. This enables item visibility and optimizes safe and secure supply chains saving time and money.
Technology
Morpheus Network is a platform built as a decentralized application on top of the Ethereum blockchain. Through the utilization of smart contracts, the platform can ensure automation of the operational workflow but also increases integrations with real-world data and provides a multi-flow payments gateway.
It can merge the new tech with the legacy system and the network of legal and financial entities for customs compliance and international payments settlements. This works as follows. For example, the system recognizes that the stock is low of a particular item that triggers a smart contract event to order a restock of goods. After the order is processed and the preconditions are met, the payment is made automatically, and the goods have now been reserved and processed for shipment.
With a SWIFT network integration, having over 1600 banks in 200 countries globally, the payment can be made by smart contracts so the supplier doesn’t have to deal with the process manually and can start the shipment process immediately. This quickens the order flow and enables that the shipment is being processed as soon as the order is placed, which in turn facilitates global trade and narrows the time between the stock requirement and the start of the delivery process.
Considering the complexity of the supply chain process, it partners with other blockchain-based projects to bring a comprehensive solution, and the platform is blockchain-agnostic. Morpheus Network is a member of the Enterprise Ethereum Alliance (EEA), which enables collaboration with industry leaders using Ethereum-based enterprise technology. Integrated ecosystem partners such as Chainlink add value by providing access to real-world data without the need for oracles.. Further integrations include Fedex’s tracking technology to signify shipment arrivals or Ripple as a settlement objective in a supply chain Smart Contract and we already mentioned SWIFT for making international payments automatically.
In addition, the smart contract carries all the needed information for customs and legal operations that will enable fast and secure shipment. Afterward, the demand side can track the shipment and have an insight into where the goods are, and at what stage the transaction is.
Another significant integration is with Hacken and its HackenProof protocol for security purposes. This is a decentralized bug bounty platform that provides a preventative, rather than a reactive approach to cybersecurity. It connects Morpheus Network with security researchers to ensure that the code meets all the security standards.
Target Audience
As an automated platform for supply chain management, Morpheus Network targets the global trade industry. Their platform would be most applicable in the case of multinational companies that have products in one country, packaging in a different country, and customer base in a third.
But bigger friction can be found within supply chains that include multiple entities and companies working together. With unaligned incentives, it takes a great deal of effort to integrate all parties in a seamless operational flow but also data sharing and payments. This is why Morpheus Network offering solutions to transcend these problems with blockchain technology, primarily targets these areas of the global trade industry.
Although the platform finds its application internally within the process of delivering to the end consumer and benefits the companies involved in the process the most, it also provides value to the end consumer. As it guarantees that the information of a product is true. It can provide the end customer the information on the origin of the product and, most importantly, that it’s the original one, preventing counterfeiting and fraud protection in consumer products luxury brands.
Product
Morpheus Network has a full-function platform with all the features and modules enterprises need to integrate their systems and track their goods. With all the available modules, the power of a SaaS middleware platform shines through.
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You can also request a demo here.
Use case
The platform’s usage is for connecting together multiple actors across supply chain management in an automated, secure, and immutable way. It helps in bringing transparency and trust between large corporations and facilitates the collaboration process. But not just large corporations can benefit from Morpheus, it’s also useful for SMEs.
Instead of spending time and money associated with form signing, compliance checking, processing order requests, and collecting payments, the participants in the supply chain can rely on the Morpheus Network to perform these tasks on automation, and in a predetermined way.
Considering that the tech behind the platform is universally applicable, it can be used in every industry and field, such as oil and gas, a luxury good, freight tracking, and so on. With its Digital Footprint ID, the product can be tracked from production to the end-user, which makes the possibility of fraud almost impossible. This feature can be most useful when dealing with collectibles, art, or unique and expensive items.
Competition
As a blockchain start-up focusing on supply-chain, Morpheus Network's immediate competition is other blockchain companies that operate in the same niche. While there are threats from other blockchain projects, there are also players in the traditional technology sector like IBM that focus on supply-chain as well.
Team Members
They have a dedicated and experienced team with a background in various areas of supply chain management - business development, project management, importing and exporting, shipping and compliance, web- and blockchain security, banking platforms, tax accounting, regulations, and legal. Also, they are backed by partners and advisors with vast knowledge in blockchain technology and its application.
Danny Weinberger
CEO
International relations and logistics specialist with over 15 years experience in Global Trade. He is the Director of Operations with extensive experience in venture capital and financial services with a focus on the technology sector.
Noam Eppel
COO
Has extensive entrepreneurial experience in building and growing companies. He founded Clean Forest Solutions Inc.Currently, he is leading the project development for the platform and ensuring all processes are going in accordance.
Roger Crook
Team Lead for Global Logistics
Was a former global CEO of DHL, CEO Capital Springboard was brought strategically into the team for its knowledge and expertized in the global trade and transportation industry.
Karl McDermott
Global Head of Business Development
Dynamic and entrepreneurial 25-year career founding and leading technology sales, marketing and service organizations throughout the Americas.
A full list of all team members can be found here.
Roadmap & Events
The project began its lifecycle in April 2016 when two co-founders Dan Weinberger and Noam Eppel, laid the groundwork for a full-service, global, automated supply chain platform on a distributed ledger. This resulted in the formation of Morpheus Network's North American & Asian Divisions.
2017 had mostly been the year of product- and business development. This was done by conducting interviews within the global trade industry and informing them about how the Morpheus Network can add value to supply chain management. After this research, the project has expanded its team and made its first strategic partnership with WINJIT Technologies Inc, creators of IoTsense and Predictsense.
In 2018 the Morpheus Network entered multiple alliances, including the Blockchain in Transport Alliance, which consists of names such as FedEx, UPS, SAP, Salesforce; Ethereum Enterprise Alliance; and the Trusted IoT Alliance, which connects the Internet of Things (IoT) technology with blockchain. Further partnerships were made, most notably with Chainlink and Hacken, IBM, SAP, and more. This has led to bringing further awareness to the project, and most importantly, to initial platform development strives and some of the first pilot programs for import/export and park access.
In 2019, Morpheus Network conducted further pilots, utilizing their Digital Footprint technology in luxury brands and fraud protection; cold chain and custody compliance for temperature-sensitive products; oil and gas sector to optimize supertanker loading and a pilot with the Department of Homeland Security. After conducting various pilots in all the key sectors and securing partnerships and integrations, finally, the platforms launched globally.
Moving forward into 2020 and beyond, the project plans on including its operations in other sectors and expanding its network of partners and customers. Their projection is that by the end of 2021, about 100 customers will be signed for using the platform, generating approximately $6M in annual platform revenue (APR), and up to 3000 customers signed and using the platform by 2024 generating $100M in APR.
Past Events
Upcoming Events
Token Sales & Economics
MRPH is the platform’s native token. It’s an ERC20 token on Ethereum that facilitates the platform’s usage as a means for accessing the network and services. It serves as a liquidity pool to exchange and convert currencies between fiat and 74 different cryptocurrencies via the Shapeshift integration.
The next token use case is for operating smart contracts. Also, it is used as a means to pay for transaction fees when conducting trading operations. It can act as a real-time financial derivative of the currency needed to complete a payment as a Smart Contract’s objective.
The token pre-sale was conducted from February 23rd to March 4th in 2018. The public sale followed between March 22nd until April 22nd, 2018, both at a price per token set at $0.5. With an additional 12% bonus for the first batch of tokens that was $0.5 per 1.12 MRPH token.
Out of the total supply of 100,000,000 MRPH, the 20M were allocated for the pre-sale and 52M for the crowd sale with a hard cap set at $36,000,000. The crowd sale help raised $9,880,000 out of $18,000,000, which was around 55% of the goal.
Market potential
There is great market potential in supply chain management as the problems associated with faulty management can incur huge losses. Morpheus Network aims to fix the global trade industry's inefficiencies, which is worth around USD 15 trillion per World Economic Forum.
However, it doesn't have the first-mover advantage, nor is it the only project offering a solution to this problem. But considering the amount of significant strategic partners, it has positioned itself as the most prominent project in this field of operation.
Suppose the project succeeds in acquiring its fair share of the market and seizes the supply chain management industry via companies that are the main stakeholders. In that case, it can become the platform that singlehandedly powers the global trade's whole legal and payment infrastructure.
Partnerships
FCL
A Canada-based wholesaling, manufacturing, marketing and administrative co-operative.
SENASA
The National Food Safety and Quality Service of the Argentine government.
U.S. Department of Homeland Security
The United States Department of Homeland Security is the U.S. federal executive department responsible for public security, roughly comparable to the interior or home ministries of other countries.Community Data and other Key Information
The project has the biggest following on Twitter like many of the projects out there, but its Facebook following is strong as well compared to the norm. They have a medium for blog posts and an Instagram account but with 175 followed there, it is far from important. Questions get answered in their Telegram which is very active.
They lack a sub-Reddit or a group on Discord which can mean that there isn’t much developer-driven discussion. This is understandable because the project focuses on global business which holds most of the dialog privately.
References and other key information
https://www.icohunter.net/members/ico/morpheus-network/
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