HEALE fixes logistics with the best of Web3 practices
Logistics is one of the world’s biggest industries, and is tied to rapid growth with an ongoing explosion of e-commerce. Mere growth and new technologies have, however, not removed the problems the industry suffers from: massive waste of resources due to inefficiency and fragmentation.
HEALE Network approached TX with their impressive Web3 project, which updates the logistics industry with an open-source, blockchain-based protocol. Their solution tackles some of the root causes of the problems, such as lack of data transparency, trust, and interoperability between the industry players, causing companies to hoard their logistics data and protect their own networks instead of sharing them for better efficiency.
TX helped HEALE Network to crystallize the concept and write a convincing whitepaper for their next fundraising round.
HEALE’s decentralized solution solves the lack of trust
At the heart of HEALE is the sharing of data from logistics devices and by humans to blockchain, and the tokenized rewards paid for data sharing. All assets in the logistics network become nodes that share real-time location and state data of shipments. This data, once validated, forms the basis of all transactions and is used to optimize the efficiency of resource utilization and choose the best transport routes.
The network is optimized for substantial savings resulting from better resource utilization efficiency, lack of middlemen, automated collection and validation of data, improved coordination, and avoidance of errors and dishonesty.
A trustless identity and reputation system shows the risk associated in engaging in business with a new partner and incentivizes the players to improve their quality and reputation.
For carrier companies, HEALE provides significant financial benefits through an escrow mechanism that guarantees immediate payment once the shipment is delivered. The process operates at a fraction of the price compared to current factoring services which eat up a large part of their margins.
TX’s diligent team led an organized workflow, quickly implemented feedback, and worked efficiently throughout. Their thorough discovery process and strong understanding of the client’s requirements made for a productive engagement.
— Todd Haselhorst, Founder at HEALE
Making a complex concept understandable
As an intricate ecosystem and token economy, HEALE Network required additional modeling and clarification of several aspects before a whitepaper could be completed.
One of the challenges was to communicate the concept to different stakeholders, such as investors, shippers, carrier companies, and drivers, each of which have their own expectations. The whitepaper needed to be easily readable, and the terminology understandable to those coming from outside the industry.
As part of our research, HEALE’s shipping process was detailed and rigorously tested with regard to the requirements of different types of freight transport. Any exceptions and errors that may happen in the shipping were carefully analyzed to see that the system always has a recovery mechanism.
Token mechanics and value drivers were modeled and validated, and the HEALE ecosystem was mapped to understand the profile and purpose of each member in the ecosystem, along with their value propositions and value exchange with other players. Throughout all this work, the HEALE concept proved to hold out with minor changes and ideas for improvement.
Heading for growth through openness and decentralized governance
HEALE is currently in the process of rolling out its proof-of-concept, and its ambitious go-to-market plan involves gradually opening up as a service to different logistics players and freight transportation modes.
The first versions of HEALE provide major benefits to freight carriers who enjoy the advantage of optimized capacity utilization and profit. In addition, shippers are offered an optimized shipping route and carrier capacity to minimize the price and risk of the shipment.
HEALE’s open ecosystem structure invites new companies to connect to the network and utilize the blockchain data to build additional third-party services.
In the long-term plan, the governance of HEALE Network will be handed over to a DAO, a decentralized autonomous organization run by individual stakeholders. This model will give users a direct say in the direction of the network, and allow HEALE to be self-sustaining and resilient to the actions of any single entity, as the DAO will represent the collective interests of the logistics industry.
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