ParcelX aims to create a cross-border parcel delivery ecosystem where anyone or service provider can trust and participate through revolutionary blockchain technology, called Blue Ocean market with blockchain technology.
After reading ParcelX white paper, I have gather two parts to the company:
1) Creating a 3rd generation logistic network model, ie.an intergrator systems using blockchain technology. This will connect shippers, logistics service providers, logistics integrators and consumers in a well-balanced ecosystem, based on trust guaranteed by blockchain and seamless interactions, saving time and money while ensuring optimal security, transparency and traceability.
2) Creating a Token economy within the logistic network model. ParcelX token, GPX, is essentially a cryptocurrency. This currency will be used as a form of exchange between the stakeholders within the ParcelX system and tradable in the exchange market. GPX is awarded for good performing stakeholders.
The interesting thing is how they valued cryptocurrency, GPX, by using money velocity formula. M*V=P*Q. Where P*Q is the Total Average Price of Gross Merchandise Volume. As of 9 November 2018, GPX is valued at 1 GPX = USD 0.18.
While blockchain technology maybe useful for transparency and traceability of the parcel delivery, my concern is how cheap the delivery cost would be when ParcelX progresses. As the GMV increases, the GPX intrinsic value will increase. In addition, ParcelX having an open market exchange system will expose the GPX to speculation and volatility which is not favourable for business.
To read and experience firsthand, go to below links.
White Paper: https://parcelx.io/whitepaper.html
Console demo: https://parcelx.io/demo/#/ecommerce/overview
Commentary by Maverick Chung
Image Source: https://parcelx.io/whitepaper.html