If you haven’t noticed, there’s a lot of trucks on the highways these days. That’s because during 2020,
everyone was buying everything online. That’s put a lot of stress on the logistics systems
that make sure your 12-piece knitting set shows up in time for your quilting circle party. So fun. In this video, we're going to explore two of the most
promising blockchain solutions for the modern supply chain dilemma.
We'll look at how they aim to fix those problems and I’m going to explain why there will be plenty
of room in the market for both projects. And your quilts. Put on your trucker hat. Ship is about to get real. Let's get it! Welcome to BitBoy Crypto!
The largest crypto channel in all the Interwebs. My name is Ben. Everyday on this channel,
I show you how to make money in crypto. If you like money and crypto,
then make sure to hit that subscribe button. In this video, we're looking at logistics blockchain projects and how they're going to revolutionize
on demand shipping. Today, we're going to be taking
a look at VeChain and Dock, our favorite picks for the future of supply chains
and logistic technologies. You may be wondering why blockchains are needed for keeping records of shipping receipts
and other basic business details, but when you actually take a look
at how the world works, our global, national and local supply
chains are a total mess.
This might not be obvious because
everything seems to be running fine and packages tend to show up on time, unless they're nabbed by porch pirates. But we've seen how fragile
international commerce can be and how one small disruption in a supply chain
can have huge consequences. Blockchain technology will make supply chains
much more organized and resilient by collecting and aggregating information
that can be used to quickly identify and resolve potential disruptions.
This allows for a level of coordination that was
never really possible before in global trade and will eliminate much of the human error
that we see across many different industries. Detailed and immutable records of what
takes place on a supply chain can also drastically reduce the number
of lost, stolen and damaged goods, potentially saving businesses and their
customers billions of dollars. The leader in this space is, without a doubt,
a project called VeChain, which we've of course discussed
on this show many times. VeChain is a Chinese project that was founded in 2015 and has been steadily building its ecosystem
and growing its partners through multiple bull and bear cycles.
It has a strong team with an impressive background
including its founder and CEO, Sunny Lu, the former CIO of Louis Vuitton China. In fact, Louis Vuitton is now one
of VeChain's official partners, along with BMW and several other well known
luxury and consumer brands. However, its largest and most powerful partner
is none other than the Chinese government. That's right. Despite the Chinese government's
hostility towards most crypto assets, it seems to have given VeChain the green light
to operate within its borders. Not only that, but the government in China
is openly praising the project and has recently hosted a meetup
with the VeChain Foundation to discuss the digital infrastructure that the country
will be using for the future of supply chains and financial markets. Over the past year, VeChain's technology has also been
rapidly deployed in the medical field for a variety of different use cases. In a recent partnership with Renji Hospital in Shanghai, VeChain has launched an application called MyBaby, which allows expecting parents to monitor
their developing baby on the blockchain after having an in vitro fertilization procedure. VeChain has delivered a wide range of different
initiatives at the Renji Hospital, and it wasn't just MyBaby.
Seriously though, last year, VeChain launched
the world's first blockchain-based Intelligent Tumor Treatment Center
at the same hospital, and additional efforts are expected
to be coming soon. There's no doubt about it, VeChain's partnerships, especially those in China,
have set it up to be a tried and true long hauler in the supply chain space. But as we've seen in every crypto asset class, there's room for a variety of different projects
that serve different niches and communities. This is also an example of decentralization,
one of the core values in crypto culture. If you have one project or asset that maintains
a monopoly in a particular market, that sounds an awful lot like centralization, a simple fact the maxis love to ignore.
Let's be real. There's more than one smart contract play. There's more than one NFT play, more than one DeFi play and, yes, there is more than one supply chain play, too. Which brings us to a shiny new 18 wheeler Dock. Dock launched in 2017, so it has not been around as long as VeChain, but this is still a seasoned project that
has lived through the crypto winter and made significant progress
on its ambitious roadmap.
Dock has a strong team as well with veterans from both the supply chain
and crypto industries on board. We're so on board with Dock that we've hitched our trailer to their rig
and we partnered with them recently. The fact that Dock is a bit earlier in its development
is actually a good thing for investors who are looking to get in on the ground floor
of this exciting technology. The market cap for this project is extremely low
considering its potential, especially with the release of new applications,
wallets, Ledger support and staking abilities that will be coming in the next year. Dock has also been awarded a grant
from the Web3 Foundation and will soon be harnessing the scaling
power of Polkadot's parachains as it grows as network. Dock has quickly become one of the most anticipated
projects coming to Polkadot's ecosystem. One of the most exciting things about Dock is the fact
that governance of this platform will be decentralized, taking the middlemen out of supply chain
infrastructure once and for all. Decentralized governance means that
there is no single point of failure and no central authority making decisions.
The Dock team has recently announced that
the proof-of-stake testnet is now live, bringing the network one step closer to decentralization. The proof-of-stake mainnet is expected
to launch sometime this summer. Now, when researching Dock, you'll notice that it's very similar to VeChain
but more focused on Western markets. For the most part,
crypto assets are neutral and international, which is one of the things that makes
this technology so powerful. But companies and supply chain
still exists in the physical world, where they are regulated by competing governments that have different ideas about
how business should be done. We have seen that governments can be hesitant
to welcome technology and applications that were developed by rival nations.
In China, they don't have Twitter. They have a similar government-approved app
called WeChat. In the United States, our government has recently
considered a ban on apps like WeChat and TikTok because they were developed in China. Luckily, governments are slowly learning
that they can't just ban their citizens from using certain blockchains, so they will likely just do their best to promote
and support products that are built at home.
This is actually very bullish for both Dock and VeChain. We've seen a similar scenario play out
with Alibaba and Amazon, two of the most successful companies in the world
that provide essentially the same service but serve different markets. Would it have been better to invest in
Alibaba or Amazon 20 years ago? Or would it have been better to invest in both? Now, I'm not a financial advisor. Remember? You guys know that. One thing's for sure though. This technology can solve many of the existing
problems with our broken supply chains. And these two projects are expected
to be leading the pack. Let me know what you think of VeChain
and Dock in the comments below. And if you haven't already,
smash the like and subscribe buttons. It really helps us out. That's all I got.
Be blessed. BitBoy out..