Shiptek Solutions A Philippines’ Firm Starts A New Blockchain Based Platform

A company called Shiptek Solutions, which is based in the Philippines, has just announced the launch of a new platform last Wednesday. The platform will be based on the blockchain technology, and it will deal with shipping and logistics, with the goal of revolutionizing these industries. At the same time, all of its businesses will be completely transparent, which will eliminate any possibility of illegal or shady transactions.

The company's CEO and founder Eugenio Ynion Jr. has stated that the new XLOG project will represent the first step towards solving challenges revolved around logistics and shipping. It will provide all participants with peace of mind regarding all related business transactions.

During the launch of XLOG, Ynion stated that he has been in this branch of business for over 24 years. During this time, he noticed a very few significant changes, with the same mistakes being repeated on a regular basis. As an attempt to revolutionize the market, he decided to create a one-stop shop marketplace.

By launching XLOG, he hopes to bring this sphere of business to a more modern, digital age. To do this, he created an online marketplace for companies that offer shipping services, as well as those who require them. That way, the entire process of sending and receiving shipments will be much simpler and safer, with the addition of better tracking the shipments. Not only that, but dealing with the transaction documents will see an improvement as well.

By using the blockchain technology, documents regarding the shipments will be sealed off. Doing this will eliminate any possibility of manipulating the information, which will eventually lead to complete elimination of the companies' misuse for smuggling goods.

Thanks to the unique nature of blockchains, the process of tracking the documents will also be much faster and easier. From the moment goods are bought and ordered, to their delivery, every step of the process will be completely transparent and capable of careful tracking. Also, thanks to the GPS devices, the location of each shipment will be known at all times.

According to Ynion, XLOG will not allow any tampering of official shipment-related documents, which will prevent, or even completely disable the possibility of smuggling. Smugglers won't be able to do their business by using fake business names, identities, or even addresses, which will significantly improve the legality of the shipping industry.

Current practices regarding the shipping business are not especially fast, and each shipment often takes entire days only for the paperwork to be done. Customers need to get in touch with various different providers in order to determine which of them would be best to serve as their service partner. Negotiating and renegotiating charges, and terms of the deals, in general, are both expensive and time-consuming.

Ynion's new system will reduce all of the related processes to only 1.5 days, which will allow the customer to submit their requests much faster. With their terms previously set, various service partners can reject or accept the offer almost immediately.

XLOG currently shows a lot of promise when it comes to revolutionizing the shipping industry. Its improvements were so necessary that digitalizing this branch of business comes as a quite refreshing change.