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IMMLA’s mission is to provide a multimodal deliveries service with a decentralized control system of transportation, document flow and payments. Its authors say that the new technology allows a dramatic reduction of trust deficit, information barriers and legal costs. This is achieved through interaction of cargo owner and transporter through IMMLA working on the base of Ethereum blockchain and smart contracts. It will allow the monitoring of cargo damage, time of delivery, cargo location, selection of suitable delivery route and other cool parameters.
IMMLA is founded by a consortium of logistics and IT leaders. It includes names such as Formag Fowarding (subsidiary of Global Transport Investment), experts from the 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 the Ethereum blockchain as early as in the first quarter of 2018. According to the whitepaper, in 2019-2020 the IMMLA service will be offered on the CIS market. In 2021, it is to enter the markets of Western Europe and China. According to their estimates, the IMMLA product expects to occupy 1-2% of the freight forwarding market five years after its full launch.
“International freight forwarding market is annually estimated at approximately 200 million TEUs (twenty-foot equivalent unit). Thus, the goal of 1-2% market share five years after the full-scale launch, constitutes roughly 3 million TEUs (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, founder of the IMMLA consortium
Based on a 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 TEUs in terms of both legal issues and document workflow. However, IMMLA claims to be a new service, inheriting only the logic from its predecessor.
“Initially, a client puts into the service information about the necessity to deliver a specific cargo from one place to another at a specific time. Further along, 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.” – Mikhail Astakhov
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 approximately $500,000 during the first round ICO (http://immla.io/pre-ico). The first round begins at 00.00 UTC+3, on the 15th of July 2017 and finishes on the 30th July 2017. The 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, the IML token price is 0.000192 ЕТН. During the ICO this price will increase up to 0.000275 ЕТН. So the early bird’s bonus is 43%. The pre-ICO is successful if more than 577 ЕТН (~$150К) is collected, otherwise all funds are returned to pre-lCO participants.