The logistics sector is faced with many challenges, and that has been a drawback to its efficiency, the flow of services and not to mention the costs as well.
IMMLA is the creation of a team of like-minded individuals who saw the need of revolutionizing the logistics sector by integrating it with the cryptocurrency technology and using blockchain and smart contracts to make sure that there is an increase in efficiency. It takes care of the typical efficiency lags in the logistics sector such as lack of proper information flow, lack of trust, high costs due to hidden fees, insolvency risks, currency exchange issues, compensation problems that may arise and under insurance.
With many logistics companies especially the big ones the main problem arises from communication barriers between the owner of the cargo and the transporter, which leads to many challenges that may even pose a risk to both the company and the customer. IMMLA will employ the use of the Ethereum blockchain and smart contracts to make sure there is more transparency in communication between both parties at all stages of freight transportation. Apart from that, it eliminates the need for paper documentation that comes with its set of inconveniences especially for the cases of large cargo turn over.
IMMLA’s ongoing crowdsale started on September 15, 2017, and will run for a month from start date. The main aim of the crowdsale is to raise the necessary funds through the sale of its IML tokens. As a part of the ICO campaign, the platform will be issuing a total of 434,477,177 IML tokens.
Should you participate in the ICO?
IMMLA has plans to use the IML market rate to buy back the IML tokens after the sale at the cost of 36% of IMMLA’s revenue which translates to potential profits to token holders in the near future. All the redeemed tokens will be burned by the company, limiting the supply and thereby driving the cryptocurrency’s value.
There is no doubt that the value of IML token is likely to rise. IMMLA is the first company to provide a solution to logistics problem using decentralized technology. It will buff the losses that are normally suffered in the logistics sectors with may be from US $8 to $30 Billion keeping in mind that 20% of the cargo is normally not insured.
The platform is built over smart contract enabled Ethereum protocol, to provide transparency for investors in the logistics sector. Given the size of the industry segment, its turnover makes up for about 6% of the world GDP. IMMLA is poised to carve a place for itself in an emerging area, and with the continued development of the sector, it could emerge as an industry leader in no time.