The Morpheus Network (MRPH) hopes to give its cryptocurrency real value by leveraging one of the world’s largest industries-shipping.
In essence, Morpheus is marketing a better way to track cargo by combining blockchain and quick read code (QR) barcodes. The hope is to make cargo containers and other shipments easier to track with barcodes.
The idea is to create a permanent, easy-to-read, and tamper-resistant record of every shipment on the blockchain. Ideally, anybody could quickly access that record by scanning a QR Code with a phone or other gadget.
The QR Code and blockchain could create a permanent record of ownership and shipping in the blockchain. Thus, owners, customs officials, and others could identify each shipment and verify its ownership at the touch of an app.
Morpheus is a payment solution
Additionally, a smart contract or digital robot, written into the Morpheus blockchain could divulge all the pertinent information about the shipment. For example, the smart contract could contain the manifest and bill of lading.
For example, a smart contract could send a message notifying a shipper when a shipment arrives. In addition, a smart contract could notify a shipper each time somebody opens a cargo container.
Theoretically, the smart contract could notify the shipper if a shipment is late, or send progress updates to the shipper or the insurer. To send notifications they will have to put wireless devices that send messages to the shippers on containers or shipments.
In addition, they will build an integrated cryptocurrency payment system into the Morpheus Blockchain. The system could pay shippers in MRPH when they deliver cargo. Morpheus is also a layered payment system designed to facilitate SWIFT, international bank payments for shippers.
Morpheus is working with large companies
Impressively, Morpheus claims to have over 100 integrations built into its blockchain.